Levy of income tax - Applying the concessional rate of tax @ 22% ...

Taxpayer Misses Concessional 22% Rate Due to Late Form 10-IC Filing; Appeal Dismissed, No Error Found by Authority.

November 28, 2022

Case Laws Income Tax AT

Levy of income tax - Applying the concessional rate of tax @ 22% u/s 115BAA - assessee did not file Form 10–IC before the due date of filing the return of income - no infirmity in the impugned order passed by the learned CIT(A) on this issue - AT

View Source

← Previous Next →

Levy of income tax - Applying the concessional rate of tax @ 22% ...

Taxpayer Misses Concessional 22% Rate Due to Late Form 10-IC Filing; Appeal Dismissed, No Error Found by Authority.

November 28, 2022

Case Laws Income Tax AT

You may also like:

Denial of benefit of lower 22% tax rate u/s 115BAA due to delay in filing Form 10-IC by petitioner. Petitioner filed return of income in ITR-6 form, exercising option...

ITAT ruled in favor of taxpayer regarding eligibility under Section 115BAA for AY 2022-23, despite late filing of Form 10-IC for AY 2021-22. While benefits may be denied...

Denial of benefit u/s 115BAA of reduced rate of tax @22% - Domestic Companies - Condonation of delay in filing of Form No. 10-IC by the assessee - The Appellate Tribunal...

ITAT held taxpayer eligible for new tax regime under s115BAC despite initially filing return under old regime. Filing Form 10-IE is directory rather than mandatory,...

Once a company validly opts for the concessional tax rate u/s 115BAA for an assessment year, it is not required to exercise the option again for subsequent years, unless...

The High Court considered the issue of availing concessional tax rate u/s 115BAA and the requirement of electronically filing Form 10-IC. The assessee was taxed u/s...

Denial of benefit u/s 115BAA - while filing its return of income as it was unable to upload Form 10-IC due to technical glitches - Scope of CBDT circular - Despite the...

Denial of benefit of lower rate of tax @ of 22% u/s 115BAA - failure to file Form 10-IC - Petition directed to approach CBDT for condonation of delay - HC

Assessee allowed to opt for concessional tax rate u/s 115BAC(5)(i) for AY 2023-24 based on Form 10IE submitted late for previous AY, subject to fulfilling other legal...

Validity of reassessment proceedings questioned due to delayed digital submission of Form 10. Emphasis on due disclosure over procedural digital filing requirements....

The HC quashed the denial of benefits under Section 115BAB, ruling that filing Form 10-ID after the due date was a procedural lapse that should not invalidate the...

Failure to file Form 10/10B before due date prescribed u/s 139(1) cannot be fatal to deny exemption u/s 11(2), especially when Form 10/10B was available on record when...

The Appellate Tribunal (ITAT) considered whether the Central Processing Centre (CPC) was justified in denying the benefit of the New Tax Regime to an individual taxpayer...

Deduction u/s 80IA was allowed despite delay in filing Form 10CCB due to technical glitches on the Income Tax portal. The form was filed 1 hour 22 minutes after the due...

The Appellate Tribunal considered the denial of Foreign Tax Credit (FTC) due to late filing of Form 67. The return of income for AY 2021-22 was filed on 13.10.2021, with...

Quick Updates: