Mrs. Marguerite Lasusa Chawla Vs ACIT, International Taxation

Parties Involved

Facts Summary

The case involves Mrs. Marguerite Lasusa Chawla, a US resident who inherited capital assets after the death of her husband, Mr. Harinder Pal Singh Chawla. The inherited assets were supposed to be finalized in F.Y. 2015-16, but due to civil disputes, the settlement was delayed until F.Y. 2017-18. Mrs. Chawla had deposited an advance tax of Rs 3,65,00,000/- on 15th September 2015 for A.Y. 2016-17. However, the Assessing Officer rejected her claim for credit of this advance tax for A.Y. 2018-19, stating it was not deposited during F.Y. 2017-18. The appellant sought rectification under section 154 of the Income Tax Act, 1961.…

Legal Issues

• 1. Whether the order u/s 143(1) dated 20th March 2020 passed by CPC Bangalore, order u/s 154 dated 24th August 2021 passed by the Assistant Commissioner of Income Tax, and the impugned order dated 13th March 2023 passed by the Commissioner of Income Tax (Appeal) are bad in law and void ab initio.
• 2. Whether the CIT(A) erred in upholding the action of CPC-AO by not allowing credit for advance tax of Rs 3,65,00,000/- deposited on 15th September 2015 to the appellant in A.Y. 2018-19.
• 3. Whether income from Capital Gains of Rs 8,19,99,647/- should be excluded from the scope of Total Income chargeable to tax in the hands of the appellant for A.Y. 2018-19.

Judgment Outcome

Decided in favour of Assessee.

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