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of ITAT ruled in favor of taxpayer regarding eligibility under Section 115BAA for AY 2022-23, despite late filing of Form 10-IC for AY 2021-22. While benefits may be denied for AY 2021-22 due to delayed submission after March 15, 2022 deadline, the Form 10-IC filed on March 29, 2022, remains valid for subsequent years including AY 2022-23. The Tribunal emphasized that Section 115BAA is beneficial legislation aimed at providing reduced taxation for domestic companies, and its application for future years cannot be restricted due to technical delays in earlier periods. The provision's clear statutory language supports continuous application once the option is exercised, regardless of initial filing timing.
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