once again, in
accordance with the provisions of sub-section (5) of Section 115BAA of the
Act, the petitioner continued to opt for being taxed ... RANA
Signing Date:23.12.2022
16:08:56
terms of sub-section (1) of Section 115BAA , then, before proceeding
further, should the Assessing Officer
benefit of a special rate of tax as provided
under Section 115BAA of the Income Tax Act, 1961 (hereafter the Act) in
respect of assessment ... under Section 143(1) of the Act. The
petitioner submits that AY 2020-21 was the first year of operation of Section
115BAA
benefit of a special rate of tax as provided
under Section 115BAA of the Income Tax Act, 1961 (hereafter the Act) in
respect of assessment ... under Section 143(1) of the Act. The
petitioner submits that AY 2020-21 was the first year of operation of Section
115BAA
benefit of a special rate of tax as provided
under Section 115BAA of the Income Tax Act, 1961 (hereafter the Act) in
respect of assessment ... under Section 143(1) of the Act. The
petitioner submits that AY 2020-21 was the first year of operation of Section
115BAA
counsel appearing for the respondents, on
instructions, draws our attention to Section 115BAA(5) of the Income
Tax Act, 1961["Act"] to contend ... submission
bearing in mind the plain language in which sub-section (5) of Section
115BAA of the Act stands couched as also Rule 21AE
that the respondents were bound to follow the procedure
contemplated under Section 115BAA of the Taxation Laws
(Amendment) Act, 2019.
2. In view
