humbly submitted before Hon'ble Bench that the
sub-section (5) of section 115BAA, which mandates the filing of
form ... conditions
contained in subsection (2) of the section.
1.2 As per sub-section (5) of section 115BAA of the act read with
Rule 21AF
statutory time-limits laid down in section 139(1) or the mandatory
condition in section 115BAA(5) that the option must be exercised ... years which is not
attributable to specified deductions/exemptions. Sub-section (5) of
Section 115BAA , deals with the method and manner in which
options
provisions of section 10AA or clause (iia) of
sub-section (1) of section 32 or section 32AD or section 33AB or section 33ABA ... section (1) or sub-section (2AA) or
sub-section (2AB) of section 35 or section 35AD or section 35CCC or section 35CCD or
under
violating the provisions of
section 115JAA , thus fails to satisfy the conditions contained in sub-
section (2) of section 115BAA , accordingly the option shall become ... However, in terms proviso to sub-section (1) r.w.
sub-section (2) of Section 115BAA , there are certain conditions imposed on
the assessee which
extended due
date under section 139(1) opting
IN THE ITAT MUMBAI BENCH 'E' provisions of section 115BAA
and filed Form ... return
of income within extended due
date under section 139(1) opting
provisions of section 115BAA
and filed Form No. 10-IC before
time prescribed
strictly in accordance with the
terms of Sub-section (2) of Section 115BAA of the Act. However, in our view, the same would ... conditions
contained in subsection (2) of the section.
1.2 As per sub-section (5) of section 115BAA of the act read with Rule 21AF
same or any other
previous year."
6.1.1. Sub-section (5) of section 115BAA prescribes the time and manner for
exercising the option ... conditions contained in subsection (2) of the section.
1.2 As per sub-section (5) of section 115BAA of the act read with Rule 21AF
erred
in applying provisions under section 115JB in spite of the fact that
assesssee has opted for section 115BAA though ITR & Form 3CA. total ... applying provisions of section
115BAA .The CPC calculated tax u/s 115JB (instead of section 115BAA ) and
has not given the benefit of the provisions
2021-
22/10264839 arising out of the assessment order passed by CPC
u/s 143(1) of the Income Tax Act, 1961 (hereinafter referred ... specified under sub section (1) of section 139 of the Act. The
due date of filing of ITR
which was within 15.2.2021.
Hence, as per the sub section (5) of section 115BAA of the
Act, the option for new tax regime is invalid ... filing the ITR was 15.2.2021, therefore, as per sub-section
(5) of section 115BAA of the Act, the option for new tax regime is
invalid
