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TMI Blog2023 (12) TMI 462X X X X Extracts X X X X X X X X Extracts X X X X ..... of the said circular. In these circumstances, the writ petition is disposed of, with a direction to the CBDT to process the petitioner s request contained in Form 10-IC. CBDT will process the aforementioned prescribed form within eight (8) weeks from the date of receipt of the order passed today. The interim order which was made absolute on 19.05.2023, shall continue to operate pending the aforementioned exercise, and for further three (3) weeks, in case the result is adverse to the interest of the petitioner. - HON'BLE MR. JUSTICE RAJIV SHAKDHER AND HON'BLE MR. JUSTICE GIRISH KATHPALIA For the Petitioner Through: Mr Vibhor Garg, Adv. For the Respondents Through: Mr Sanjeev Menon, Standing Counsel. RAJIV ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribed form i.e., Form 10-IC. 6. Mr Zoheb Hosaain, who appears on behalf of the respondent/revenue, on the other hand, says that the provisions of Section 115BAA and Rule 21AE clearly mandate that Form 10-IC should be filed, along with the return. 6.1 Mr Hossain also says, that there is an alternate remedy available under Section 246A of the Act. 7. Perhaps, the issue that requires consideration, is that if every information that is sought for in the form is available with the return, and there is indication in the return, that the 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 an opportunity to the assessee [in thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to avoid genuine hardship to the domestic companies in exercising the option u/s 115BAA of the Act, CBDT in exercise of the powers conferred under section 119(2)(b) of the Act, hereby directs that: - The delay in filing of Form No. 10-IC as per Rule 21AE of the Rules for previous year relevant to A.Y. 2021-22 is condoned in cases where the following conditions are satisfied: (i) The return of income for relevant assessment year has been filed on or before the due 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 (e) of Filing Status in Part A-GEN of the Form of Return of Income ITR-6; and (iii) Form No. 10-IC is filed electronically on o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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