Credit of TDS shall be given for assessment year for which income is assessable

CAE Simulation Training Pvt. Ltd. Vs DCIT (ITAT Delhi) The sole issue agitated by the assessee in the captioned appeals is that the ld.CIT(A) has erred in law in ignoring the provisions of section 199 of the Income-tax Act, 1961 r.w.r 37BA(3) of the Income-tax Rules, 1962 which clearly provide that the credit of TDS shall be given for the assessment year for which the income is assessable. On being asked by the Bench, the ld. Representatives of both the sides agreed that the facts and circumstances of all three appeals are similar and identical. The ld. AR, drawing our attention to a recent or...