Deloitte Employees Welfare Trust Vs. ITO, Ward-22(1)(6)

Parties Involved

Facts Summary

The assessee, Deloitte Employees Welfare Trust, is a private trust created for the welfare of employees of Deloitte Touche Tohmatsu India LLP. The trust filed its return of income under the status of 'AOP' for AY 2022-23 on 29th July 2022. The total income of the assessee consists of interest from fixed deposits. The assessee computed tax at normal rates, whereas the learned AO, CPC completed the case of the assessee at 42.74% on the maximum marginal rate (30% + 4% cess) including surcharge at 37%, vide intimation u/s 143(1) dated 16th March 2023. Accordingly, a demand of Rs. 1,89,880/- was raised, as against the refund of Rs. 60,580/-. Being aggrieved with the aforesaid demand, the assessee preferred an appeal before the first appellate authority, stating that the provisions of clause (iv) of the 1st proviso to section 164 (1) would apply in the assessee’s case instead of provisions of section 167B of the act. However, Ld. CIT(A) decided the matter by affirming the levy of additional tax under intimation by the CPC.…

Legal Issues

• 1. Levy of Surcharge of Rs.1,90,286
• 2. Refund

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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