under Section 143(1) of the Act. In the said
intimation under Section 143(1) , the Petitioner was denied the benefits of
Section 115BAA ... date specified under Section 139(1) of the Act.
b. The assessee company has opted for taxation under Section
115BAA
which was required to be filed in terms of
sub-Section (5) to Section 115BAA read with Rule 21AE of the Income-tax
Page ... 2175.25.doc
that the sub-section is clear and the benefit of Section 115BAA cannot be
granted unless the option is exercised
date
specified under section 139(1) of the Act;
b) The assessee company has opted for taxation under
section 115BAA of the Act in item ... date specified under section 139(1) of the Act is not a
condition precedent for claiming benefit under section 115BAA
convenience, the said Circular is reproduced hereinunder :-
"SECTION 119, READ WITH SECTION 115BAA OF THE INCOME-TAX
ACT, 1961 AND RULE 21AE ... date specified under section 139(1) of the Act;
(ii) The assessee company has opted for taxation u/s 115BAA of the Act
in item
been denied the benefit of the
concessional tax regime under Section 115BAA of the Act.
Page 1 of 6
APRIL 1, 2026
Mansi shelke
::: Uploaded ... eligible to opt for the concessional tax regime under Section 115BAA .
For A.Y. 2025-26, the due date for filing the return of income
under Section 143(1)(a) .
5. According to the Revenue, once this is the case, there is no
provision prescribed in Section 115BAA to provide ... first proviso to Section 143(1)(a) . In this case, not allowing the
beneficial tax rate prescribed under Section 115BAA , does not fall under
October,
2020, whereby certain additions have been inserted in section
115BAA of the Act, amongst others, for the assessment year
2020-21 only. That apart ... order dated 11 th January, 2020 passed
by the CBDT under section 119 of the Act that across the
board three extensions
beneft of low
taxation at 20 per cent in terms of Section 115BAA of the Income
Tax Act, 1961 ("the Act"), the Petitioner ... some error attributable
to the system, the intimation in view of Section 143(1) dated 21
1/2
8. WP 15316-22.doc
Chittewan
July
