Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
ITAT holds that condonation of delay u/s 119(2)(b) validates the assessee's option under s.115BAA, rendering the sole dispute concerning denial of the concessional 22% rate moot. The Tribunal sets aside the order of the CIT(A) and restores the matter to the file of the AO with directions that the AO: (i) take cognizance of the condonation order dated 11.09.2025 passed by the PCIT u/s 119(2)(b); (ii) verify electronic filing of Form No.10-IC and recompute tax liability at 22% u/s 115BAA; and (iii) afford the assessee an opportunity of being heard before giving effect to these directions. The assessee's appeal is allowed for statistical purposes.
ITAT holds that condonation of delay u/s 119(2)(b) validates the assessee's option under s.115BAA, rendering the sole dispute concerning denial of the concessional 22% rate moot. The Tribunal sets aside the order of the CIT(A) and restores the matter to the file of the AO with directions that the AO: (i) take cognizance of the condonation order dated 11.09.2025 passed by the PCIT u/s 119(2)(b); (ii) verify electronic filing of Form No.10-IC and recompute tax liability at 22% u/s 115BAA; and (iii) afford the assessee an opportunity of being heard before giving effect to these directions. The assessee's appeal is allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
