9911796707
TMI Blog2025 (5) TMI 280X X X X Extracts X X X X X X X X Extracts X X X X ..... enial of the option exercised by the assessee as per section 115BAC of the Act, of paying taxes under the new regime, i.e. at lesser rate than the normal rate prescribed without claiming any exemption or deduction from its income, in the intimation made by the CPC, Bangalore, u/s 143(1) of the Act . That therefore, the arguments presented should be considered equally for both the matters, and adjudication may be conducted accordingly. Ld. DR fairly agreed with the same. Both the appeals were therefore heard together and are being disposed off by this common consolidated order. 3. At the outset it was pointed out by the ld. counsel for the assessee that there were two defects noted by the Registry in the filing of both the appeals - the first being in relation to the filing fees paid short by Rs. 9500/- and the other of the appeals being filed delayed, beyond limitation prescribed as per law. 4. With regards to the filing fees being paid short, the ld. counsel for the assessee pointed out that section 253(6) of the Act, which prescribed the appeal filing fees in case of appeals filed to the ITAT, the quantum of fees was fixed on the basis of income assessed by AO in sub clause(a) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovision of law or the fact of the case. 5.1 Therefore accepting the contentions of the assessee, the defect of short payment of filing fees of Rs. 9,500/- noted by the Registry is accordingly treated as no defect. 6. The other defect noted in the filing of the appeal of there being delay of 71 days in filing of the present appeal before the Tribunal. The assessee filed an application seeking condonation of delay, stating that the counsel of the assessee being pre-occupied with other professional matter, inadvertently, by oversight failed to file the appeal in time, and the affidavit of the concerned counsel of the assessee, Shri Biren Shah to this effect was also filed before us. 7. Noting the contents of the same we find that the assessees have established the existence of sufficient cause for the delay in the filing of the present case. The delay, we have noted, in any case is not attributable to the assessee, the fault lying at the door of the counsel of the assessee, who being preoccupied with work was unable to file the appeal in time. We consider it good and sufficient reason for condoning the delay of filing of the present appeals and accordingly delay of 71 days is cond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee in the impugned year. The same was filed by the assessee in the preceding year along with his return of income, but the said form having not been filed within the prescribed time, the assessee had not been granted the benefit of paying taxes in the new regime in the preceding year. With this background of facts, it is to be adjudicated, whether in the impugned year also, the assessee necessarily needed to file Form No. 10-IE to opt for paying taxes under new regime as per section 115BAC of the Act. For the said purpose, it is necessary to reproduce the relevant provisions of section 115BAC of the Act. "115BAC. (1) Notwithstanding anything contained in this Act but subject to the provisions of this Chapter, the income-tax payable in respect of the total income of a person, being an individual or a Hindu undivided family, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2021 73[but before the 1st day of April, 2024], shall, at the option of such person, be computed at the rate of tax given in the following Table, if the conditions contained in sub-section (2) are satisfied, namely:- Sl. No. Total income Rate of tax (1) (2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any, under any provision of section 32, except clause (iia) of sub-section (1) of the said section, determined in such manner as may be prescribed; and (iv) without any exemption or deduction for allowances or perquisite, by whatever name called, provided under any other law for the time being in force. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx (5) Nothing contained in this section shall apply unless option is exercised in the prescribed manner by the person,- (i) having income from business or profession, on or before the due date specified under sub-section (1) of section 139 for furnishing the returns of income for any previous year relevant to the assessment year commencing on or after the 1st day of April, 2021, and such option once exercised shall apply to subsequent assessment years; (ii) having income other than the income referred to in clause (i), alongwith the return of income to be furnished under sub-section (1) of section 139 for a previous year relevant to the assessment year: Provided that the option under clause (i), once exercised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore, in the facts of the present case, in the preceding year when the assessee had filed Form No. 10-IE while exercising its option of paying taxes as per the new regime, the option was not invalidated as per sub section (2) to section 115BAC of the Act. The option though was denied to the assessee for the reason that the Form No. 10-IE was not filed within the prescribed time, clearly the assessee's exercise of option in the preceding year was not invalid. That therefore, when the assessee again opted paying taxes under the new regime in the impugned year, there was no requirement for the assessee to file a fresh Form No. 10-IE at all, as per sub section (5) to section 115BAC of the Act. It is only if the earlier option is treated as invalid that the assessee has to go about exercising the option afresh in the succeeding years. 12.3 In the light of the same, and in view of the fact that the assessee had filed Form No. 10-IE in the preceding year, when it exercised its option of paying taxes under the new regime for the first time, the denial of exercise of this option in the impugned year for failure to file Form No. 10-IE, we hold, is not accordance with law. 13. The order ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
