CBDT clarifies
applicability of 'representative assessee' provisions u/s 160 to official
assignees and their classification in the appropriate category of 'person' as
defined u/s 2(31) of the Income-tax Act; States that since official assignees
do not receive income or manage property on behalf of debtor, they cannot be
considered as representative assessee of debtors u/s 160(1)(iii) while
computing tax liability arising from estate of debtors; Further clarifies that
the status of official assignee is that of 'artificial juridical person' as
prescribed u/s 2(31)(vii); Thus states that official assignee is required to
file income-tax return electronically in the ITR Form applicable to 'artificial
juridical person' separately for each of the estate of the insolvent and income
shall be taxed as per the rates applicable to an 'artificial juridical person';
Further, requires official assignee to obtain a separate PAN for each of the
estate of the insolvent
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