Official Assignee status: treated as artificial juridical person, not representative assessee; each estate must file separate ITR. Official Assignees do not qualify as Representative Assessee under section 160(1)(iii) because they do not manage property or receive income on behalf of the debtor after adjudication; instead they must be treated as an artificial juridical person under section 2(31)(vii), obtain a separate PAN for each insolvent estate, file the applicable ITR electronically for artificial juridical persons, and have the estate income taxed at rates applicable to such juridical persons.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Official Assignee status: treated as artificial juridical person, not representative assessee; each estate must file separate ITR.
Official Assignees do not qualify as Representative Assessee under section 160(1)(iii) because they do not manage property or receive income on behalf of the debtor after adjudication; instead they must be treated as an artificial juridical person under section 2(31)(vii), obtain a separate PAN for each insolvent estate, file the applicable ITR electronically for artificial juridical persons, and have the estate income taxed at rates applicable to such juridical persons.
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