The Economic Times

Sold property for Rs 94 lakh but lost Rs 21 lakh TDS due to buyers error; How Form 71 helped seller win relief from ITAT Delhi

A property seller successfully claimed a Rs 21 lakh TDS credit at ITAT Delhi after the buyer mistakenly deposited it in the wrong year. Despite the Income Tax Department's denial, the tribunal ruled that capital gains must be taxed in the year of transfer, allowing credit based on Form 71.