Reassessment due to error in TDS Return of deductor quashed on subsequent rectification

Siemens Industry Software Nv Vs ACIT (Delhi High Court) Siemens Industry Software Nv, the petitioner, contended that an initial error in the TDS return filed by Axiscades Engineering Technologies Limited (AETL) instigated the reassessment proceedings against them. The error reflected the receipt of an amount equivalent to Rs.1,09,94,821/- from AETL by the petitioner, while in reality, it was another entity – Siemens Industry Software (India) Pvt. Ltd. (SISPL) that received the said amount. A rectification in the TDS return submitted by AETL was subsequently carried out. The revised Form ...