Denial of reduced tax under section 115BAA where company failed to file Form 10-IC or opt in Petitioner sought benefit of reduced tax under s.115BAA but had not filed Form 10-IC nor opted for the lower tax in its return. HC held CBDT's circular ...
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Denial of reduced tax under section 115BAA where company failed to file Form 10-IC or opt in
Petitioner sought benefit of reduced tax under s.115BAA but had not filed Form 10-IC nor opted for the lower tax in its return. HC held CBDT's circular permitted condonation of delay in filing Form 10-IC only where the company had opted for s.115BAA; petitioner did not meet that condition. SC declined to interfere with the HC decision, dismissed the special leave petition, and disposed of any pending interlocutory applications.
Heard the petitioner's senior counsel. The Court stated, "We are not inclined to interfere with the impugned judgment and order passed by the High Court." Consequently, "The Special Leave Petition is dismissed and the accompanying interlocutory application(s), if any, stands disposed of." No further reasons or analysis are recorded in this order; the decision reflects appellate restraint and denial of leave to entertain the petition, leaving the High Court's judgment and order intact and disposing of any pending interlocutory applications.
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