Shri Srinivasan Nandagopal vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee filed an appeal against the order of the Commissioner of Income Tax (Appeals) dated 23.02.2024. The assessee had filed his return of income for the assessment year 2022-23 on 02.11.2022 and exercised the option for taxing the income under section 115BAC of the Income Tax Act, 1961. However, the Assessing Officer and the Commissioner of Income Tax (Appeals) rejected the option exercised by the assessee and processed the return under the old tax regime. The assessee argued that the rejection of the option was not justified as the return for the assessment year 2022-23 was filed within the due date.…

Legal Issues

• 1. Rejection of option exercised by the assessee under section 115BAC of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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