This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Form 71 Corrects Buyer’s TDS Error, Capital Gain Taxed in Transfer Year: ITAT Delhi Allows Full Credit
Case Law Details
- Case Name
- Abdul Rahman Asad Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Abdul Rahman Asad Vs DCIT (ITAT Delhi)
Form 71 Overrides Buyer’s Wrong-Year TDS Filing—Capital Gain Taxable Only in Year of Transfer- ITAT Delhi Grants Full TDS Credit:
In this appeal, Assessee, a Non-Resident, sold an immovable property in September 2021 & declared the capital gain in AY 2022-23, claiming TDS credit of ₹20,99,240 deducted by the buyer. CPC granted only ₹60,872, as the buyer erroneously filed the TDS return in the following year (AY 2023-24), causing the TDS to appear in Form 26AS of AY 2023-24 instead of AY 2022-23.
CIT(A) acknowledged that TDS was indeed deducted...
Author Info
