EXECUTORS OF THE ESTATE OF LATE BOMAN MANECKJI MIRZA,HYDERABAD vs. INCOME TAX OFFICER, WARD-5(1), HYDERABAD

ITA 501/HYD/2024Status: DisposedITAT Hyderabad23 September 2024AY 2021-22Bench: SHRI K.NARASIMHA CHARY (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)6 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the executors are entitled to the TDS credit deducted on the deceased's PAN, provided no return was filed by the deceased claiming the same. For the assessment year 2023-24, the income is to be taxed at normal slab rates applicable to an individual.

What were the facts?

The assessee, executors of a deceased individual's estate, were issued a new PAN after the deceased's death. They claimed TDS credit deducted on the deceased's old PAN for income earned by the estate, but the tax department denied this credit.

What were the issues?

Whether TDS credit deducted on a deceased individual's PAN can be claimed by the executors of their estate. Whether income of a deceased person's estate should be taxed at maximum marginal rate or normal slab rates.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 168

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “B”, HYDERABAD

Before: SHRI K.NARASIMHA CHARY & SHRI MADHUSUDAN SAWDIA

For Respondent: Shri D.Praveen, DR
Hearing: 10/09/2024

PER K. NARASIMHA CHARY, J.M: Aggrieved by the orders dated 14/03/2024, 22/03/2024 and 28/03/2024 passed by the learned Commissioner of Income Tax (Appeals) (“Ld. CIT(A)”), Kolkata in the case of Executors of the Estate of Late Boman Maneckji Mirza (“the assessee”) for the assessment year 2021-22, 2022-23 and 2023-24 respectively, assessee preferred these appeals. Since the substantial issue involved in these appeals is common, these appeals are clubbed, heard together and a common order is being passed for the sake of conveni

The order continues below.

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