Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Under the new tax regime, the Tribunal treated a previously filed Form 10IE as continuing where the assessee had already exercised the option and had not withdrawn it. It noted that the claim under section 115BAC for A.Y. 2023-24 could not be rejected merely because no fresh Form 10IE was filed for that year. The return should not have been processed under the old regime on that basis, and the Assessing Officer was directed to allow taxation under the new regime on the strength of the form already available on record.
Under the new tax regime, the Tribunal treated a previously filed Form 10IE as continuing where the assessee had already exercised the option and had not withdrawn it. It noted that the claim under section 115BAC for A.Y. 2023-24 could not be rejected merely because no fresh Form 10IE was filed for that year. The return should not have been processed under the old regime on that basis, and the Assessing Officer was directed to allow taxation under the new regime on the strength of the form already available on record.
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