Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
The HC dismissed the miscellaneous application and upheld the ITAT's remand to the AO/TPO/DRP, holding that whether the assessee qualifies as a trader other than a wholesale trader depends on factual satisfaction of the two cumulative conditions in the CBDT notification dated 29.10.2015. The court observed the assessee had adduced material showing non-compliance with one condition and the ITAT had already accepted non-classification as a wholesale trader for AY 2014-15; consequently the issue is fact-centric and does not raise any substantial question of law, precluding judicial interference with the remand or directing application of a 3% tolerance.
The HC dismissed the miscellaneous application and upheld the ITAT's remand to the AO/TPO/DRP, holding that whether the assessee qualifies as a trader other than a wholesale trader depends on factual satisfaction of the two cumulative conditions in the CBDT notification dated 29.10.2015. The court observed the assessee had adduced material showing non-compliance with one condition and the ITAT had already accepted non-classification as a wholesale trader for AY 2014-15; consequently the issue is fact-centric and does not raise any substantial question of law, precluding judicial interference with the remand or directing application of a 3% tolerance.
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