Bangalore ITAT Grants TCS Credit To IMFL Dealer Even Though License Was In Name Of Another Person

The Bangalore ITAT ruled that Tax Collected at Source (TCS) credit is available for an IMFL dealer even if the license is in another person's name. The tribunal emphasized that the beneficial owner is entitled to the TCS credit, ensuring that tax benefits are not denied due to technicalities. This decision supports the principle of substantive justice and aims to prevent undue hardship to taxpayers. The ruling highlights the importance of interpreting tax laws in a manner that aligns with their intended purpose.