Harbans Singh Vs AO, CPC (ITAT Amritsar)
The assessee challenged the order of the Ld. JCIT (A)–8, Mumbai dated 19/12/2023 passed under section 250, which arose from the CPC, Bangalore intimation under section 143(1) dated 28/10/2022. The dispute concerned denial of the benefit of the lower tax rate under section 115BAC on the ground that Form 10-IE had not been filed within the time prescribed under section 139(1).
The assessee, an individual having business income, originally filed his return on 02/01/2022 within the extended due date of 15/03/2022, claiming deductions under Chapter VIA under the old tax scheme. He subsequently filed a revised return on 24/03/2022, declaring returned income of Rs. 16,91,220/-, opted for the new tax scheme under section 115BAC and submitted Form 10-IE on the same date. CPC processed the return under section 143(1) on 28/10/2022 but did not allow the benefit of the new tax regime, stating that Form 10-IE had not been filed within the time allowed under section 139(1).
The first appellate authority dismissed the appeal, applying the principle of strict interpretation to exemption provisions and holding that the assessee was not eligible for section 115BAC benefit because Form 10-IE had not been filed within the prescribed time.
