Valid exercise of the concessional corporate tax option through...

Valid exercise of the concessional corporate tax option through Form No. 10-IC under section 115BAA continues to apply in subsequent assessment years. Filing the prescribed form, disclosing the option in the relevant return, and prior departmental acceptance support the continuing availability of the concessional rate. Computation at the normal rate during return processing or failure to submit supporting records at the first appellate stage does not negate substantive eligibility where statutory compliance is otherwise established.