Option under section 115BAA disallows set off of additional depreciation losses and eliminates post option MAT credit availability. Election to the 115BAA concessional regime requires computing total income without claiming additional depreciation and bars set off of brought forward losses attributable to additional depreciation for the year of election and subsequent years. The MAT regime will not apply post-election, and MAT tax credit will not be available after the option is exercised; however, because there is no deadline to elect, companies may choose to utilise accumulated additional depreciation losses or exhaust MAT credit under the prior regime before opting into 115BAA.