SARLA HOLDINGS PRIVATE LIMITED vs PR COMMISSIONER OF INCOME TAX DELHI-7 NEW DELHI & ANR.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgement delivered on: 28.05.2025 + W.P.(C) 325/2024 & CM APPL. 1485/2024 SARLA HOLDINGS PRIVATE LIMITED ..... PETITIONER Versus PR COMMISSIONER OF INCOME TAX DELHI-7 NEW DELHI & ANR. ..... RESPONDENTS Advocates who appeared in this case For the Appellant : Ms P L Bansal, Sr Advocate with Mr Shivang Bansal, Advocate. For the Respondent : Mr Anant Mann, JSC for Mr. Ruchir Bhatia, SSC and Mr. Abhishek Anand, Advocates CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA JUDGMENT VIBHU BAKHRU, J. 1. The petitioner has filed the present petition, inter alia, impugning the order dated 29.11.2023 [impugned order] passed by the Principal Commissioner of Income Tax, Delhi – 07 [PCIT] rejecting the petitioner’s application for revision of the assessment order dated 21.09.2022 [impugned assessment order] passed by the Assessment Unit [AU] under Section 143(3) read with Section 144B of the Income Tax Act, 1961 [the Signature Not Verified Digitally Signed W.P.(C) No.325/2024 Page 1 of 11 By:TARUN RANA Signing Date:29.05.2025 15:41:35 Act] in respect of Assessment Year [AY] 2020-21. 2. The petitioner is essentially aggrieved by the denial of the benefit of paying tax at lower rate in terms of Section 115BAA of the Act, which was introduced by the virtue of Taxation Laws (Amendment) Act, 2019 with effect from 01.04.2020. The petitioner had not opted for paying tax at a lower rate as it had not indicated so in the affirmative against the requisite box in its return. The petitioner claimed that the same was an inadvertent error and accordingly, filed its revised return. However, the respondents have not accepted the change in option and this led the petitioner to file the present petition. PREFATORY FACTS 3. The petitioner