https://www.taxtmi.com/caselaws?id=751845 ITAT held that the domestic company was entitled to the concessional tax regime under s.115BAA(1) despite non-filing of Form 10-IC along with the original ROI for AY 2020-21 due to technical glitches. Relying on Rule 21AE and the CBDT circular dated 17.03.2022 condoning delay in filing Form 10-IC, ITAT held that the circular could not be interpreted to curtail a statutory benefit otherwise available under the Act. It ruled that CBDT instructions cannot override substantive law or restrict relief. The orders of AO and CIT(A) were set aside to this extent, and AO was directed to recompute tax liability under s.115BAA(1). en-us Wed, 24 Apr 2024 00:00:00 +0530 Thu, 27 Nov 2025 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751845 ITAT held that the domestic company was entitled to the concessional tax regime under s.115BAA(1) despite non-filing of Form 10-IC along with the original ROI for AY 2020-21 due to technical glitches. Relying on Rule 21AE and the CBDT circular dated 17.03.2022 condoning delay in filing Form 10-IC, ITAT held that the circular could not be interpreted to curtail a statutory benefit otherwise available under the Act. It ruled that CBDT instructions cannot override substantive law or restrict relief. The orders of AO and CIT(A) were set aside to this extent, and AO was directed to recompute tax liability under s.115BAA(1). Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751845