Neeta Rohit Patel Vs DCIT (CPC) (ITAT Mumbai)
Assessee is a senior citizen above 60 years of age & his income included capital gains, income from other sources & share of profit from the partnership firm claimed as exempt u/s 10(2A). Assessee has not earned any other income chargeable under the head income & gains from business or profession. Intimation u/s 143(1) levied interest u/s 234B & 234C. Assessee filed rectification petition u/s 154 against the intimation u/s143(1) which was rejected
On appeal CIT(A) though accepted the fact of senior citizen & has disclosed Rs Nil income under the head profit & gains of business or profession, held that both the provisions of sec.207 & 208 should be fulfilled & the assessee has not complied the requirements u/s 208.
Before the Tribunal, Dept contended that the provisions of Sec. 207 & 208 cannot applied independently.
Tribunal observed that the provisions of Sec. 207(2)(a)&(b) are applicable to the assessee & that the liability to pay the advance tax does not apply to an individual who is resident in India & such individual does not have any income chargeable to tax under the head profit & gains of business or profession & further the age of the individual is more than 60 years during the previous year. Section 208 lays the conditions of liability to pay the advance tax.
