Concessional corporate tax option may be withdrawn when a taxpayer exercises an alternative preferential tax election. Amendment to section 115BA (effective 1 April 2020) narrows its marginal heading to domestic manufacturing companies, modifies sub-section (1) to exclude application where specified alternative preferential provisions are invoked, and inserts in sub-section (4) a proviso allowing withdrawal of the election under this section when the taxpayer exercises an option under the alternative preferential provision; a corrigendum corrects the cross-reference.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Concessional corporate tax option may be withdrawn when a taxpayer exercises an alternative preferential tax election.
Amendment to section 115BA (effective 1 April 2020) narrows its marginal heading to domestic manufacturing companies, modifies sub-section (1) to exclude application where specified alternative preferential provisions are invoked, and inserts in sub-section (4) a proviso allowing withdrawal of the election under this section when the taxpayer exercises an option under the alternative preferential provision; a corrigendum corrects the cross-reference.
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