TDS Credit Cannot Be denied by CPC Without Proper Verification: ITAT Pune

ACIT Vs Gateway Terminals India Pvt. Ltd. (ITAT Pune) ITAT Pune order on Whether, while processing the return of income u/s 143(1) of the ITA, 1961, CPC was justified in restricting the credit of TDS claimed by the assessee, despite the TDS being duly reflected in Form 26AS, and whether such restriction is permissible in light of section 199 read with Rule 37BA, which governs the grant and timing of TDS credit. Summary: In this decision, the Pune Bench of the Income Tax Appellate Tribunal Pune upheld appellate relief granted to an assessee whose TDS credit was curtailed during CPC processing u...