Rectification Not Allowed When Beneficiaries’ Shares Are Indeterminate: ITAT Lucknow

Gauri Ananya Educational Beneficiary Trust Vs DCIT (ITAT Lucknow)

Rectification u/s 154 not permissible – Trust rightly taxed at Maximum Marginal Rate due to indeterminate shares of beneficiaries

Assessee filed its return as an AOP/Trust. The return was processed u/s 143(1) & tax was levied at Maximum Marginal Rate (MMR) as per section 164, on the ground that beneficiaries’ shares were not specified.

Assessee did not file appeal against the 143(1) intimation. Instead, it filed rectification u/s 154, claiming MMR was wrongly applied. CPC rejected the rectificat

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