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2024 (5) TMI 23 - ITAT JAIPURNew scheme for Tax on income of individuals and Hindu undivided family u/s 115BAC - Assessee had not filed Form 10-IE for opting the new tax regime within the stipulated time - denial of benefit of new scheme as assessee has not filed the return of income within the time period allowed for filling the return of income - whether the other deduction as per the old scheme is allowable to the assessee or not? - standard deduction not allowed which is available under the old tax regime. HELD THAT:- As per provision of section 115BAC so as to understand the allowability of deduction on the return of income filed after the due date prescribed, in this case since, the assessee has not filed the return of income as per the due date prescribed, then as per the proviso given in the above section the assessee is not eligible to get the benefit of the new scheme. Thus, as per the proviso of the aforesaid section the option the option shall become invalid in respect of the assessment year relevant to that previous year under consideration and other provisions of this Act shall apply, as if the option had not been exercised for the assessment year relevant to that previous year. Since the assessee in this case though filed the return after the due date which was not processed under the new tax regime but the said return is required to be proceeds as per the old provision of the Act and after considering the provision of section 80AC - Since, the standard deduction, deduction u/s 80C and 80TTA is required to be tested as per the evidence that the assessee is supposed to produced. Since the assessee was not provided an opportunity of being heard before processing the return of income, we feel it in the interest of the natural justice that the assessee shall provide the details connected to the claim before the ld. AO on merits a fresh in the interest of equity and natural justice. Thus we hold to remand the matter back the matter to the file of the AO who will decide the issue based on evidence and submission of the assessee. Appeal filed by the assessee is allowed for statistical purposes.
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