RAKESH KUMAR MOKSHIT KUMAR HUF,SURAT vs. DEPUTY DIRECTOR, CPC, BENGALURU

ITA 65/JODH/2025Status: DisposedITAT Jodhpur12 August 2026AY 2023-20245 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since no Form No. 10-IE withdrawing the option was filed, the CIT(A)'s finding of withdrawal was factually incorrect. The AO was directed to verify the absence of a withdrawal form and compute tax under the new regime.

What were the facts?

The assessee, a HUF, had opted for the new tax regime under section 115BAC by filing Form No. 10-IE for AY 2021-22. This option was accepted for AY 2021-22 and AY 2022-23. For AY 2023-24, the CIT(A) sustained the tax computation under the old regime, stating the option was withdrawn.

What were the issues?

Whether the assessee's option to opt for the new tax regime under section 115BAC, once exercised and accepted for prior years, continues for the current year in the absence of a withdrawal form.

Which sections of the Income-tax Act were involved?

Section 115BAC,Section 143(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH, JODHPUR

For Appellant: CA (Virtual)
For Respondent: DR (Physical)

PER BENCH: The present appeal has been filed by the assessee against the order dated 29.11.2024 passed by the Ld. Additional/Joint Commissioner of Income-tax (Appeals)-4, Kolkata, arising out of the adjustment made while processing the return of income under section 143(1) of the Income-tax Act, 1961, for the Assessment Year 2023-24. 2. The sole grievance of the assessee is that the Ld. CIT(A) has erred in sustaining the computation of tax under the old tax regime, despite the fact that 2 Asst. Year: 2023-24 the assessee had filed its return opting for the new tax regime under section 115BAC. The assessee, a HUF carrying on business, had exercised the option under section 115BAC

The order continues below.

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