Schaeffler India Ltd. vs. ACIT (JAO DCIT)

Parties Involved

Facts Summary

The appeal was filed by Schaeffler India Ltd. against the order passed by the Commissioner of Income Tax (Appeals) for the Assessment Year 2021-22. The assessee challenged the recomputation of tax liability and the withdrawal of the taxation scheme opted under Section 115BBA of the Income Tax Act, 1961. The assessee claimed a deduction under Section 80G for a donation made to the Prime Minister Cares Fund during the Financial Year 2020-21. The CPC denied the taxation regime under Section 115BBA, which was confirmed by the Ld. CIT(E). The assessee argued that the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, allowed for a 100% deduction under Section 80G for donations made to the PM CARES Fund.…

Legal Issues

• 1. Invalid Jurisdiction u/s 143(1) of the Income Tax Act, 1961
• 2. Denial of taxation regime opted u/s 115BBA of the Income Tax Act, 1961

Judgment Outcome

Decided in favour of Assessee.

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