Shreyas Paradkar (Individual) Vs. ITO Range 1(1)

Parties Involved

Facts Summary

The assessee, Shreyas Paradkar, claimed to have opted for the new tax regime while filing his return of income on 25th July 2023. The income-tax website showed a tax payable of ₹5,000 after giving credit for TDS. However, on the first page of the return of income filed, it was shown that the assessee did not opt for the new tax regime. This was due to a glitch on the website. The return was processed under the old regime because the assessee failed to file Form 10-IE within the prescribed time limit, which was an oversight. The assessee filed Form 10-IE immediately after receiving the intimation under section 143(1) of the Act and also filed a rectification application under section 154 of the Act, which was of no avail. Consequently, the assessee filed an appeal before the Ld. Commissioner (Appeals), which was dismissed.…

Legal Issues

• 1. Whether the assessee is entitled to be taxed under the new tax regime as per section 115BAC of the Income Tax Act, 1961.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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