Assessee, resident individual, had a retirement benefit account maintained in a notified country. He filed Form 10EE to exercise the option in assessment year 2022-23 for taxation of income accrued from such retirement benefit account in the assessment year in which income from said account was taxed at the time of withdrawal or redemption, as the case may be, in the notified country. For the relevant assessment year, assessee claimed relief under section 89A towards income accrued on retirement benefit account. Assessing Officer disallowed the same on the ground that assessee had not filed Form No. 10EE for the relevant assessment year. CIT(A) affirmed the order of the Assessing Officer. Tribunal held that the assessee had filed Form No. 10EE for the assessment year 2022-23. Once Form No. 10EE had been filed in respect of a previous year, the option exercised therein would continue to apply to all subsequent years and, consequently, it would not be mandatory for the assessee to file the form afresh for every assessment year. Since relief under section 89A had been granted on the basis of Form No. 10EE already furnished, the same relief could not be denied merely for the reason that the form had not been filed again in subsequent years. Accordingly, the denial of relief under section 89A to assessee on such procedural grounds was not sustainable in law (AY. 2023-24)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.89A: Relief from taxation in income from retirement benefit account maintained by notified country-Denial of relief-Filed Form No. 10EE for assessment year 2022-23-Option exercised therein would continue to apply to all subsequent years-It would not be mandatory for assessee to file said Form afresh for every assessment year to claim relief under section 89A.[R. 21AAA, Form No 10EE] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61203","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fV9","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=61203"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61203\/revisions"}],"predecessor-version":[{"id":61204,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61203\/revisions\/61204"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}