Brahmos Realty Private Limited ,Mumbai vs Income Tax Officer Ward 9(2)(1), Mumbai on 19 August, 2025
In the present
case, since tax audit was conducted and ITR was filed declining claim of
14
Brahmos Realty Private Limited Vs. ITO, Ward-9(2)(1)
ITA No. 4119/MUM/2025
benefit of new tax regime and the tax liability was worked out in
accordance with old tax regime, further assessee's claim for MAT credit,
bars it to claim low tax under new regime u/s 115BAA, the same can be
construed as not fulfilling conditions as required under the provisions of
Section 115BAA of the Act and accordingly, Form-10-IC which is filed by
the assessee can be treated as had not been exercised by the
assessee.Also, as per settled position of law as discussed in the case of
JSW Minerals Trading (P) Ltd. Vs. ITO in ITA No.6137/MUM/2024,
coordinate bench of Mumbai ITAT had observed as under: