ITAT Grants TDS Credit on Merged Entity’s Income to Amalgamated Company

Shiva Pharmachem Limited Vs DCIT (ITAT Ahmedabad) In a recent decision, the Income Tax Appellate Tribunal (ITAT) in Ahmedabad addressed the issue of TDS credit eligibility for Shiva Pharmachem Limited. The tribunal ruled that the Assessing Officer (AO) should allow TDS credit to the company, even if the tax deduction certificates were issued in the name of its amalgamated company, provided that the related income is reflected in Shiva Pharmachem’s assessment. Background of the Case The appeal filed by Shiva Pharmachem Limited challenged the decision of the Commissioner of Income Tax (Appeals...