Appeal dismissed; merger validity not reopened, leasehold rights transferred to corporate debtor formed liquidation estate; section 36(4)(a)(iv) inapp...
The ITAT allowed the assessee's appeal, holding that delay in filing Form 10-IC did not disentitle the assessee to concessional taxation under s.115BAA where the form was filed for the first time before the Tribunal and the omission was explained as oversight; other grounds were consequential. The Tribunal directed the assessing officer to grant the benefit of s.115BAA if the assessee satisfies all statutory and procedural prerequisites, distinguishing revenue reliance on a decision where Form 10-IC was not filed even before the Tribunal. The relief is conditional upon fulfillment of all remaining requisite conditions.
The ITAT allowed the assessee's appeal, holding that delay in filing Form 10-IC did not disentitle the assessee to concessional taxation under s.115BAA where the form was filed for the first time before the Tribunal and the omission was explained as oversight; other grounds were consequential. The Tribunal directed the assessing officer to grant the benefit of s.115BAA if the assessee satisfies all statutory and procedural prerequisites, distinguishing revenue reliance on a decision where Form 10-IC was not filed even before the Tribunal. The relief is conditional upon fulfillment of all remaining requisite conditions.
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