https://www.taxtmi.com/caselaws?id=751970 The ITAT Jaipur held that an assessee who failed to file Form 10-IE within the stipulated time and filed the return after the due date cannot avail benefits under the new tax regime u/s 115BAC. The case reverted to the old tax provisions, making standard deduction and other deductions under sections 80C and 80TTA potentially allowable subject to evidence. Since the assessee was not given adequate opportunity to be heard before return processing, the matter was remanded to the AO for fresh consideration based on evidence and submissions in the interest of natural justice. The appeal was allowed for statistical purposes. en-us Thu, 25 Apr 2024 00:00:00 +0530 Wed, 01 May 2024 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751970 The ITAT Jaipur held that an assessee who failed to file Form 10-IE within the stipulated time and filed the return after the due date cannot avail benefits under the new tax regime u/s 115BAC. The case reverted to the old tax provisions, making standard deduction and other deductions under sections 80C and 80TTA potentially allowable subject to evidence. Since the assessee was not given adequate opportunity to be heard before return processing, the matter was remanded to the AO for fresh consideration based on evidence and submissions in the interest of natural justice. The appeal was allowed for statistical purposes. Case-Laws Income Tax Thu, 25 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751970