that the appellant
challenged the order u/s 154 where their claim of lower tax rate u/s 115BAA of the
IT Act has been ... report. We,
therefore, hold that the rectification order passed by the CPC u/s 154 of the Act
was invalid in law to the extent
conditions contained in sub-section(2) of
the of the Section:
(a)As per section (5) of section 115BAA of the Act Read with rule ... appellant domestic
company has violated the provisions as per section (5) of section 115BAA of the
Act Read with rule 21AE of the Income
return under section 139(1) , since the
assessee had acted in bonafide manner in claiming option of concessional tax
under section 115BAA ... date specified under section 139(1) of the Act.
2. The assessee company has opted for taxation u/s 115BAA
supra). The
said decision was rendered in the context of section 115BAA of the Act and
5
ITA No.2602/PUN/2024 ... return of income, has
denied the benefit of provision of section 115BAA of the Act.
7. Aggrieved, the assessee preferred appeal before
provisions of this Chapter, other than those mentioned
under section 115BA and section 115BAA , the income-tax payable
in respect of the total income ... under section 115BAB . The CPC , however, processed this
return under section 143(1) on 21.05.2024, applying the tax rate of
22% under section 115BAA instead
section 115BBA was denied on the ground that
Form No.10-IC was not filed electronically. The relevant section is
reproduced as under :
Section 115BAA ... 2025 [A]
[Exercise of option under sub-section (5) of section 115BAA .
21AE. (1) The option to be exercised in accordance with the provisions
section 115BBA was denied on the ground that
Form No.10-IC was not filed electronically. The relevant section is
reproduced as under :
Section 115BAA ... 2025 [A]
[Exercise of option under sub-section (5) of section 115BAA .
21AE. (1) The option to be exercised in accordance with the provisions
total income of
₹84,85,850/- under the provisions of section 115BAA
of the Act, thus claiming entitlement to beneficial
rate of taxation @22%.
ITAT ... date prescribed u/s
139(1) of the Act, and failing to which the company
disentitles to the benefit of section 115BAA
company, claims that it had opted for alternate tax regime u/sec.
115BAA of the Act in A.Y. 2021-22. It is further submitted ... that it had exercised the option to be assessed u/sec. 115BAA of the
Act, the requisite Form 10IC was not filed within the prescribed
adopted by assessee for calculation of tax liability as per ITR
u/s 115BAA and the Ld. CIT A erred in confirming the same ... adopted by assessee for calculation of tax liability as per ITR u/s
115BAA .
The CPC has erred in computing income tax liability of assessee
