Meenaben Maheshchandra Patel Vs ITO (ITAT Surat)
The Surat Bench of the Income Tax Appellate Tribunal examined an appeal filed by an individual assessee against an order of the National Faceless Appeal Centre confirming taxation under the old tax regime for Assessment Year (AY) 2023–24. The assessee had filed her return of income on 28 July 2023 declaring income of ₹15,58,470 and had opted for taxation under the new tax regime provided under Section 115BAC of the Income-tax Act, 1961. However, while processing the return under Section 143(1), the Centralised Processing Centre computed tax under the old regime. A rectification application under Section 154 was also rejected.
Before the first appellate authority, the assessee contended that she had clearly exercised the option for the new tax regime and had earlier filed Form 10IE in AY 2022–23, mentioning its acknowledgement details in the return for AY 2023–24. She also asserted that the option had not been withdrawn and that she specifically requested taxation under Section 115BAC. The Commissioner (Appeals), however, noted that Form 10IE for AY 2022–23 was filed on 08 November 2022, one day after the extended due date of 07 November 2022. On this basis, it was held that the option under Section 115BAC was invalid, and since the option could be exercised only once, the assessee was denied the benefit of the new regime for AY 2023–24 as well. The appeal was accordingly dismissed.
