https://www.taxtmi.com/highlights?id=83695 The High Court allowed the petition and permitted the petitioner to obtain Form 10IC for the Assessment Year 2021 and make a fresh application. The court relied on Wipro Limited [2022 (7) TMI 560 - Supreme Court] and held that the respondent was required to consider the facts of the case by permitting the petitioner to file a fresh Form 10IC and condoning the delay in filing such Form u/s 119(2)(b) of the Act. The provisions of Section 119(2)(b) are meant for redressal of grievances and hardships caused to the petitioner. The petitioner had adopted the option for taxation u/s 115BAA of the Act, which grants relief to companies by enabling them to pay a reduced tax rate of 22% subject to certain conditions. en-us Thu, 05 Dec 2024 08:37:21 +0530 Thu, 05 Dec 2024 08:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83695 The High Court allowed the petition and permitted the petitioner to obtain Form 10IC for the Assessment Year 2021 and make a fresh application. The court relied on Wipro Limited [2022 (7) TMI 560 - Supreme Court] and held that the respondent was required to consider the facts of the case by permitting the petitioner to file a fresh Form 10IC and condoning the delay in filing such Form u/s 119(2)(b) of the Act. The provisions of Section 119(2)(b) are meant for redressal of grievances and hardships caused to the petitioner. The petitioner had adopted the option for taxation u/s 115BAA of the Act, which grants relief to companies by enabling them to pay a reduced tax rate of 22% subject to certain conditions. Highlights Income Tax Thu, 05 Dec 2024 08:37:21 +0530 https://www.taxtmi.com/highlights?id=83695