PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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ITAT held that the assessee, being a domestic company which elected taxation under section 115BAA by filing Form 10IC for FY 2019-20 and subsequent years, is taxable at the prescribed flat rate of 22% on its total income, including long-term capital gains. The Tribunal found no merit in applying the concessional 20% rate under section 112 and upheld the order of the CIT(A). Consequentially, the appeal is dismissed and the assessment stands confirmed at the 22% rate pursuant to the assessee's valid exercise of the 115BAA option.
ITAT held that the assessee, being a domestic company which elected taxation under section 115BAA by filing Form 10IC for FY 2019-20 and subsequent years, is taxable at the prescribed flat rate of 22% on its total income, including long-term capital gains. The Tribunal found no merit in applying the concessional 20% rate under section 112 and upheld the order of the CIT(A). Consequentially, the appeal is dismissed and the assessment stands confirmed at the 22% rate pursuant to the assessee's valid exercise of the 115BAA option.
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