Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
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Benefit of the option of lower rate of tax exercised by the assessee u/s 115BA - claim was denied by the CPC/CIT(A) for the simple reason that the assessee has not filed form 10IB for the assessment year under consideration - The ITAT found that the instructions clarify that Form 10IB is required to be filed only in the first year when opting for the concessional tax rate for the first time. - The ITAT concluded that since the assessee had complied with the requirements and filed Form 10IB in the first year, there was no requirement to file the same for subsequent years. Therefore, the ITAT directed the Assessing Officer to levy tax at the rate of 25% as applicable to the assessee.
Benefit of the option of lower rate of tax exercised by the assessee u/s 115BA - claim was denied by the CPC/CIT(A) for the simple reason that the assessee has not filed form 10IB for the assessment year under consideration - The ITAT found that the instructions clarify that Form 10IB is required to be filed only in the first year when opting for the concessional tax rate for the first time. - The ITAT concluded that since the assessee had complied with the requirements and filed Form 10IB in the first year, there was no requirement to file the same for subsequent years. Therefore, the ITAT directed the Assessing Officer to levy tax at the rate of 25% as applicable to the assessee.
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