Withdrawing benefit of TDS on advance rent received unjustified: ITAT Delhi

Besto Electronics Pvt Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that the revenue authorities are not entitled to appropriate the taxes which have been paid in excess of the due taxes to be paid by the assessee. Accordingly, reducing refund by withdrawing benefit of TDS on advance rent received is unjustified. Facts- The assessee owns properties which it has leased out to various parties. In respect of the assessment year 2001-02, the assessee had claimed credit for TDS of Rs.54 ,23,068/- on rent of Rs.1 ,56,18 ,636/-. However, while computing assessable income from house property the income was...