The assessee contradicted the AIR information by stating that certain transaction does not belong to it, however, it claimed the credit of TDS pertaining to such transaction. The Tribunal held that this was not permissible. Assessee had to prove that the income does not belong to it and that the credit for TDS was wrongly claimed. Accordingly, the matter was remitted back to AO to give any opportunity to the assessee (AY .2011-12).
Edel Commodities Ltd. v. Dy. CIT (2018) 194 TTJ 86 (Mum.)(Trib.)
S. 4 :Charge of income-tax – Discrepancy in AIR data and Form 26AS – Assessee disputed certain transaction reflected in AIR data but claimed credit of TDS – Held, not permissible – Held, AO to verify whether credit of TDS wrongly taken and whether the income does not belong to the assessee. [ Form 26AS]