Form 26AS Not Final – ITAT Grants TDS Credit to Law Firm despite Deductor’s Default

Naik Naik And Co. Vs CIT (ITAT Mumbai) Form 26AS Not Final Word- Its a departmental statement that reflects deductor’s compliance- TDS Credit Cannot Be Denied for Deductor’s Default – Section 205 Protects Deductee The appeal by Naik Naik & Co., a law firm, arose from denial of TDS credit of ₹96,12,846 & consequential levy of interest u/s 234B & 234C while processing return u/s 143(1). The firm, following cash system, received professional receipts net of TDS from clients & offered full gross receipts to tax. CPC disallowed credit of ₹96.12 lakh on the sole ground ...