2025 (9) TMI 703

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....Revenue : Shri Hemanshu Joshi, Sr.DR PER B.R. BASKARAN, A.M : The assessee has filed this appeal challenging the order dt.26-02-2024 passed by the Ld.Addl./JCIT-(A)-4, Kolkata and it relates to AY. 2021-22. The only issue urged in this appeal is whether the assessee is liable to pay income tax as per the slab rate prescribed for Individuals, HUF and AOP (Association of Persons) or at the max....

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....the slab rate applicable to individual, HUF and AOP, which is prescribed in Para A of Part I of First Schedule of The Finance Act, 2020. However, while processing the return of income, the CPC computed the income tax on the income of the assessee at the maximum marginal rate. 4. The assessee challenged the income tax so computed by the CPC by filing appeal before the Ld.CIT(A). However, the Ld.....

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....ve to be referred to in order to determine the status of the Executors. As noticed earlier, sec. 168(1) states the status of the Executor shall be Individual, if there is only one Executor and it will be AOP, if there is more than one executor. The Ld A.R submitted that in both the situations, the tax should be levied at the slab rates prescribed for individuals/HUF/AOP. In support of these propos....

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....us of AOP in terms of sec.168(1) of the Act. What is important to note is that the income that is subjected to tax is the income of the "estate of the deceased person". The status of the "estate of deceased person" would depend upon the number of executors, as noticed earlier. Accordingly, when the status is taken either as "individual" or "AOP" as per sec.168(1) of the Act, we are of the view tha....