Executors of the Estate of Late Boman Maneckji Mirza vs. Income Tax Officer

Parties Involved

Facts Summary

Boman Maneckji Mirza, an individual, died on 17/03/2020, leaving behind a will appointing three persons as Executors of his estate. The Executors applied for a new PAN card in the name of the estate, which was issued as AABAE6947N. Interest and dividends accrued on the deceased's accounts were claimed by the Executors in their return of income. However, the Tax Department denied the TDS credit due to the absence of a succession certificate. The Executors appealed against this decision, arguing that they were entitled to the TDS credit as per section 168 of the Act. The Tribunal reviewed the case and found that there was no dispute regarding the income belonging to Boman Maneckji Mirza or the TDS being deducted on his PAN. The Tribunal also noted that the Executors had applied for a new PAN and filed the return of income in their capacity as Executors. The Tribunal directed the Assessing Officer to verify if any return was filed with the deceased's PAN claiming the TDS credit and to allow the Executors' claim if no such return was found.…

Legal Issues

• 1. Whether the Executors are entitled to the TDS credit?
• 2. Whether the tax should be charged at the normal marginal rate for the assessment year 2023-24?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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