TDS Credit shall be given for Assessment Year for which Income is Assessable

Archana Airways Ltd. Vs ITO (ITAT Delhi) TDS Credit shall be given for the assessment year for which income is assessable The Income Tax Appellate Tribunal, Delhi (“the ITAT”) in Archana Airways Ltd v. ITO [I.T.A. No. 8755/DEL/2019 dated November 2, 2022] held that Tax Deduction at Source (“TDS”) credit shall be given to the deductee for the Assessment Year (“A.Y.”) for which such income is assessable under the Income Tax Act, 1961 (“the IT Act”). Facts: M/s Archana Airways Ltd (“the Appellant”) filed return for the A.Y. 2013-14 declaring total income at a loss of Rs. 62,32...