The credit for TCS was denied by the AO. The assessee filed an application under section 154 contending that credit ought to be granted to the firm . Along with the application , indemnity of the partner , Raju Shetty was also furnished . The AO rejected the application . On appeal the CIT(A) held that issue being debatable dismissing the appeal . On appeal the Tribunal held that \u00a0merely because there is no Rule 37BA(2)(i) of the Rules with reference to TCS provisions , it cannot be the basis for deny the claim for credit of TCS . Rules applicable to TDS is also applicable to \u00a0TCS . Relied on Jai Ambey\u00a0 Wines v .ACIT\u00a0 dt . 11-1 2017\u00a0 ( ITA Nos. 12 to 15 \/ Bang \/ 2023 dt . 6 -2 -2023 )( AY. 2016 -17 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 154 : Rectification of mistake -Mistake apparent from the record -Credit for TCS -Rule applicable to TDS should also be applicable TCS- Denial of claim for TCS is not valid [ S. 199, Rule , 37BA(2)(i) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-33299","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8F5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=33299"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33299\/revisions"}],"predecessor-version":[{"id":33300,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/33299\/revisions\/33300"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=33299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=33299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}