Pawai Trust vs. DCIT

Parties Involved

Facts Summary

The assessee filed its return of income on 11.10.2021 declaring Total Income at Rs. 53,60,300/-. The return was processed u/s 143(1) of the Income Tax Act and the Assessing Officer determined the taxable income and adopted maximum marginal rate (MMR) instead of applying normal slab rates applicable in the case of the trust. Aggrieved with the order, the assessee preferred an appeal before NFAC, Delhi and filed detailed submissions objecting to the adoption of tax rates of MMR instead of Slab rates. The ld. CIT(E) dismissed the grounds raised by the assessee and rejected the case laws relied by the assessee. Aggrieved with the above order, the assessee is in appeal before the Tribunal.…

Legal Issues

• 1. Whether the tax should be applied in the case of the assessee by adopting MMR or Regular Tax Slabs.
• 2. Whether the interest levied under Section 234C of the Act is correctly computed.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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