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TMI Blog2024 (9) TMI 1691X X X X Extracts X X X X X X X X Extracts X X X X ..... and required to be rectified by giving appropriate direction. 2. Ld. JCIT(A) erred in law and on facts in confirming calculating tax at normal rate instead of rate specified in Section 115BAA of the Act. 3. Ld. JCIT(A) ought to have considered fact that non-filing of form 10IC is procedural lapse which does not lead to non-application of special provision. 4. Appellant prays that the required form 10IC has been physically filed and accordingly delay in filing the same shall be condoned by observing principle of natural justice. 5. Charging of interest under Section 234B and 234C is unjustifiable." 3. The assessee is a Company and filed the return of income on 29.12.2020 thereby declaring total income of Rs. 25,89,450/-. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Portal is fatal to the assessee or not in availing the benefit of Section 115BAA of the Act. The Ld. AR relied upon the jurisdictional High Caourt's decision in case of Gujarat Paguthan Energy Corporation (P) Limited vs. DCIT (SCA No. 13825 of 2009 dated 26.02.2014). The jurisdictional High Court while considering the eligibility of deduction under Section 80IA of the Act wherein the assessee is required to furnish the Audit Report before due date of filing the return of income, and such Audit Report was filed during the assessment proceedings, held that the assessee is eligible for deduction under Section 80IA of the Act, The Ld. AR further relied upon the decision of Hon'ble Delhi High Court in case of CIT vs. Web Commerce (India) Pv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that for claiming tax rate under Section 115BAA of the Act, the Assessment Year 2020-21 is the very the first Assessment Year and due to the fault on the part of the System as mentioned by the assessee, it would have happened that the assessee has not filed the Form alongwith the return of income. It is not the case of the Revenue that the assessee is not entitled for the tax rate under Section 115BAA of the Act. If the assessee had filed Form 10IC within the prescribed time alongwith return of income, as held by various Hon'ble High Courts including the jurisdictional High Court, the CIT (A) has co-terminus power as that of the Assessing Officer. The CIT (A) is required to consider the report in Form 10IC and, therefore, it will be appropr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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