Veena Rani Vs PCIT (ITAT Delhi)
Assessee being an individual filed his return of income FOR AY 2018-19 declaring income of Rs. 21,60,670/- which was processed u/s. 143(1) of the Act. The assessee has received Rs. 2,54,24,007/- as interest on enhanced compensation from HUDA after the compulsory acquisition of the agriculture land of the assessee, on which TDS @10% was also deducted. In the return of income in Schedule EI, the assessee has claimed interest income of Rs. 2,54,24,007/- as exempt. The case of the assessee was selected for scrutiny and AO completed the assessment u/s. 143(3) r.w.s. 143(3A) & 143(3B) the returned income. Thereafter PCIT exercised its jurisdiction u/s 263 and set-aside the assessment order with direction to make assessment afresh which should have been made with respect to amended provisions of the Finance Act, 2015 & binding decision of Jurisdictional Hon’ble Punjab & Haryana High Court & Hon’ble Apex Court on the taxability of interest on enhanced compensation in the case of assessee himself. This order was subject-matter of appeal before ITAT.
Before ITAT it was argued by the assessee that the assesee submitted that notice u/s. 263 of the Act was given in the name of the deceased person. The assessee informed the Ld. Pr. CIT and thereafter notice was given to the legal heir, but in the final order the PAN Number of deceased person was mentioned. On the other hand DR submitted that mere filing of wrong PAN number does not affect its legality of the order.
