ITAT Allows TDS Credit on Exempt Land Sale despite non-disclosure in ITR

K. Venkatesan (HUF) Vs ACIT (ITAT Chennai) Mistaken TDS on Agricultural Land: Chennai ITAT grants full credit despite non-disclosure in ITR; Tribunal Overturns Denial Based on Return Filing Discrepancy; ITAT Allows TDS Credit on Exempt Land Sale Assessee filed its return of income  declaring income of Rs.12,22,520/-.   Assessee sold an agricultural land & the buyer had deducted TDS @1%   Rs.10,50,000/- u/s.194IA   on the sale consideration of Rs.10.50 crores. Since, the land sold  was agricultural land, no TDS was required to be deducted by the purchaser & inadvertently it was ...