virtue of Section 10B of the Act, then the correctness of the claim has already been verified under Sub-section (5) of Section ... filed under Section 10B(5) of the Act would become falsified and would stand to be nullified. However, the provisions of Section 115BAA
Form 10IC as
required under the provisions of Sub-section
(5) of Section 115BAA of the Act in the
prescribed manner and therefore, the
petitioner ... language of the Section 10B(8) of the
Act is pari materia to that of the Sub-section
(5) of Section 115BAA
clause
(b) of sub-section (2) of said
section, such person may exercise
option under this section:
Provided further that once the option
has been ... fulfill the condition prescribed in sub-
section (5) of section 115BAA of the Act
read with section 21AE of the Rules
providing for procedure
Form 10IC as
required under the provisions of Sub-section
(5) of Section 115BAA of the Act in the
prescribed manner and therefore, the
petitioner ... language of the Section 10B(8) of the
Act is pari materia to that of the Sub-section
(5) of Section 115BAA
section (1) to Section 139 for furnishing of return of income for previous year
in terms of sub-section (5) to Section 115BAA ... section (1)
to Section 139 for furnishing of return of income for previous year in terms of
sub-section (5) to Section 115BAA
before the due date specified
under Section 139(1) of the Act. It is contended that Section 115BAA(5)
clearly mandates that the benefit ... date specified under section
139(1) of the Act;
(ii) The assessee has opted for taxation, u/s 115BAA of the
Act in case condonation
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
There is no ambiguity in the language of Sub-section (5) of Section
115BAA of the Act. It clearly provides that the section would ... strictly in accordance with the terms of
Sub-section (2) of Section 115BAA of the Act. However, in our view, the
same would
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
Form 10-IC
(application for exercise of option under sub- section 5 of
section 115BAA of the Act) on 30.12.2022. The petitioner, on
the very ... processed vide intimation under section 143(1) of the Act
dated 26.06.2023 as per which, benefit of section 115BAA of
the Act was denied
