Form 10IC cancellation due to wrong filing

[UmeshBabu J]

A Company incorporated in India filed Form 10IC for lower taxation in 2020.In 2023 it came to know that it is not eligible to file Form 10IC as it is not a domestic company as its shareholders are foreign companies and no arrangements were made for payment of dividend in India.

How we can apply for cancellation of filed Form 10IC. whether appeal is the remedy?

Please clarify

Thanks for your inputs

AI Summary

Eligibility for concessional tax status challenged; company seeks procedure to rescind certificate and availability of appeal remedy. A company incorporated in India filed for a concessional tax certificate but later found it was ineligible because its shareholders are foreign companies and there are no arrangements for dividend payment in India; the principal question is how to obtain cancellation of the filed certificate and whether an appeal constitutes the proper remedy, focusing on procedural options to annul or withdraw the application or certificate and the correct forum for rectification.