Case Law Details
Centrum Microcredit Limited Vs ADIT (ITAT Mumbai)
Held that if assessee is not eligible for credit in the year under consideration then credit for the same should be allowed in the year in which tax has been deducted by the deductor.
Facts-
Ground 1. – The appeal of the assessee is concerned the Ld. CIT(A) has disallowed the claim of ESIC and PF on the ground that the amendment to section 36(1)(va) introduced by the Finance Act, 2021 is retrospective in nature. The Ld. CIT(A) also rejected the contention that no adjustment u/s 143(1) of the Act can be made for disallowance of deduction u/s 36(1)(va) of the Act.
Ground 2. – The assessee is aggrieved for allowing TDS credit of Rs.10,65,761/- only as against the claim of TDS credit of Rs.18,50,237/- in the return of income resulting into short credit of Rs.7,84,476/-.
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Author Bio
In our case party not deducted TDS for A.Y. 2021-22 and we did not claim the same in ITR. But the party deducted TDS in next A.Y. 2022-23 and we claimed that as per Form 26AS.This TDS on income belonging to last year which we show and CPC is saying that this income is not reflected in the current year so no TDS is allowed? our request u/s 154 was also rejected? what to do ?