section 115JB or section 115JC or Chapter XII-FAor Chapter XII-FB or sub-section (1A) of section 161 or section 164 or section 164A ... section, as the case may be: Provided further that the amount of "advance tax" computed in accordance with the provisions of section 111Aor sections
filing of return is
the mandatory requirement as per sub-section (5) of section
115BAA of the Act read with Rule 21AE of the Income ... percent, subject
to satisfaction of conditions contained in sub-section (2) of
Section 115BAA .
As per sub-section (5) of Section 115BAA
order of AO u/s
143(1) of the Act dated 24.12.2021 wherein the benefit of
provisions of section 115BAA has not been provided ... satisfaction of conditions contained in sub-section(2) of the
Section.
1.2 As per sub section (5) of section 115 BAA of the Act read
assessee raised the following grounds:
"A) Applicability of section 115BAA - Rate of Tax
1) The hon'ble Commissioner of Income Tax (Appeals), National ... having held that this
being the first year of applicability of section 115BAA and difficulties were
faced by assessee's in filing Form 10IC
relates to applicability of concessional rate of tax as
provided under section 115BAA of the Income-tax Act, 1961 (in
short ... paid tax, including interest and surcharge by applying the
provisions of section 115BAA of the Act. The return of income
filed by the assessee
counsel for the petitioner/assessee,
is embedded in sub-section (5) of Section 115BAA of the Act read with
Rule 21AE(2) of the Income ... extracted hereafter:
"21AE. Exercise of option under sub-section (5) of section 115BAA .
(1) The option to be exercised in accordance with the provisions
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 ... assessee has exercised his option in
terms of sub-section (1) of Section 115BAA , then, before proceeding further,
should the Assessing Officer (AO) not give
erred in
applying rate of tax of 22% prescribed under section 115BAA when
the assessee has filed prescribed Form 10-IC under section 115BAA
within ... against the claim of assessee @ 22% as per the
provisions of section 115BAA of the Act. The assessee challenged the
action of the CPC , Banglore
stipulated therein by not claiming any deduction as per sub-section (2)
of section 115BAA of the Act. However, the tax @ 22% was denied ... assessee @ 30%. Aggrieved, the assessee preferred a rectification
application before the CPC u/s 154 of the Act, which elicited no
response. Aggrieved, assessee preferred
that assessment year under section 143 (1) of the
act claim for alternative tax regime under section
115BAA has not been considered by the central ... date under section 139 (1) of the act claiming that it has
exercised the option to be assessed under section 115BAA of the
act. However
