ITAT Deletes Addition as TDS Deduction Alone Did Not Establish Income Accrual

Goldmine Developers Pvt. Ltd. Vs DCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi decided the assessee’s cross objection after noting that while the Revenue’s appeal for Assessment Year 2011-12 had already been dismissed, the cross objection remained undisposed. The dispute concerned an addition of Rs. 86,69,009 arising from a difference between the Tax Deducted at Source (TDS) credit claimed and the corresponding income disclosed by the assessee. The Assessing Officer observed that the assessee had claimed TDS credit of Rs. 83,05,951 on receipts of Rs. 8,31,22,127, wherea...