Allowing the petition the Court held that amount already collected by TDS and TCS will have to be adjusted against the amount arrived by applying the rate of 20 percent against tax crystallised as per the assessment order. Accordingly excess amount is to be refunded to the assessee. (AY. 2021-22)
Orion Security Solutions (P) LTD. v. DCIT [2023] 155 taxmann.com 411 / (2024) 339 CTR 108 (Delhi)(HC)
S. 220 : Collection and recovery-Assessee deemed in default-Stay-Adjustment of more than 20 per cent against demand-Credit for TDS and TCS must be considered – Excess amount collected is directed to be refunded. [S. 239, 240 Art. 226]
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