TRACES data gap: HC directs TDS credit processing on company-provided cheque & bank details

KJP And Associates Vs D/ACIT (Delhi High Court) New Delhi, Delhi – In a recent judgment, the Delhi High Court has ruled in favor of KJP and Associates, a registered partnership firm, directing the Assessing Officer (AO) to process the firm’s Tax Deducted at Source (TDS) credit for Assessment Year (AY) 2007-08. The court’s decision comes after the tax authorities cited the unavailability of relevant data on the TRACES portal, a common challenge faced by taxpayers seeking older tax credits. The ruling underscores the principle that taxpayers should not be penalized for systemic...