RAMASAMY SENTHILKUMAR, SALEM V. ITO , WARD - 1 (3), SALEM

ITA 986/CHNY/2022

AI Insights

The case involves Ramasamy Senthilkumar, the appellant, who contested the application of a special tax rate on an addition of Rs. 2.46 lakhs made under Section 68 of the Income Tax Act during the assessment year 2013-14. Initially, this addition was taxed at normal rates, but the AO later rectified this to apply a special rate of 30% under Section 115BBE. The appellant objected to this rectification, arguing it was beyond the scope of Section 154, but the CIT(A) upheld the AO's decision. The Tribunal agreed with the lower authorities, confirming the application of the special tax rate.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 134070 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-01-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 11-01-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 20-11-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 68; 154

Judgement Text

आयकर अपीलीय अिधकरण ’सी’ ायपीठ चे ई म । IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी वी. द ु गा1 राव, ाियक सद2 एवं माननीय +ी मनोज कु मार अ7वाल ,लेखा सद2 के सम9। BEFORE HON’BLE SHRI V. DURGA RAO, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ ITA No.986/Chn y/2022 (िनधा1रण वष1 / Assessment Year: 2013-14) Ramasamy Senthilkumar 76/466, Rajaji Street, Suramangalam, Salem – 636 005. बनाम/ V s. ITO Ward-1(3), Salem. थायीलेखासं./जीआइआरसं./PAN/GIR No. AQP P K-1 5 2 6 -L (अपीलाथ /Appellant) : ("#थ / Respondent) अपीलाथ की ओरसे/ Appellant by : None "#थ की ओरसे/Respondent by : Shri P. Sajit Kumar - (JCIT) – Ld. D.R सुनवाई की तारीख/Date of Hearing : 12-01-2023 घोषणा की तारीख /Date of Pronouncement : 12-01-2023 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member): 1. At the time of hearing none appeared for assessee. However, the only grievance of the assessee is application of correct rate of tax. From the assessment order, it could be seen that the assessee was saddled with addition u/s. 68 for Rs.2.46 Lacs which was subjected to tax at normal rates. However, Ld. AO rectified the assessment order u/s 154 on 10.02.2020 and held that the said addition would be assessed at special rates as per Sec.115BBE of the Act. The assessee objected the same before Ld. CIT(A) on the ground that the same was beyond the 2 scope of Sec. 154. However, Ld. CIT(A) rejected the same on the ground that as per extant provisions, the addition so made was to be taxed at special rate of 30%. Aggrieved, the assessee is in further appeal before us. 2. The undisputed position that emerges is that the rate specified u/s 115BBE for addition so made u/s 68 would be special tax rate of 30% and not as per normal Income Tax slabs. This being so, the rectification was rightly made by Ld. AO and no infirmity is found in the impugned order. 3. The appeal stand dismissed. Order pronounced on 12 th January, 2023. Sd/- (V. DURGA RAO) ाियक सद2 /JUDICIAL MEMBER Sd/- (MANOJ KUMAR AGGARWAL) लेखा सद2 / ACCOUNTANT MEMBER चे4ई / Chennai; िदनांक / Dated : 12-01-2023 EDN/- आदेश की Uितिलिप अ7ेिषत/Copy of the Order forwarded to : 1. अपीलाथ /Appellant 2. यथ /Respondent 3. आयकर आयु (अपील)/CIT(A) 4. आयकर आयु /CIT 5. िवभागीय ितिनिध/DR 6. गाड फाईल/GF