https://www.taxtmi.com/caselaws?id=763504 ITAT Pune held that CPC's rectification order u/s 154 taxing assessee at normal rates instead of lower rates under section 115BAA was invalid. Assessee had validly exercised option under 115BAA for reduced tax liability, which CPC initially accepted but later rejected without reasons or opportunity of hearing. Since assessee neither withdrew option nor violated provisions, CPC was unjustified in enhancing tax liability. However, ITAT upheld CIT(A)/NFAC's direction to AO for TDS verification, finding no infirmity in remand order for credit verification. en-us Wed, 18 Dec 2024 00:00:00 +0530 Fri, 20 Dec 2024 08:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763504 ITAT Pune held that CPC's rectification order u/s 154 taxing assessee at normal rates instead of lower rates under section 115BAA was invalid. Assessee had validly exercised option under 115BAA for reduced tax liability, which CPC initially accepted but later rejected without reasons or opportunity of hearing. Since assessee neither withdrew option nor violated provisions, CPC was unjustified in enhancing tax liability. However, ITAT upheld CIT(A)/NFAC's direction to AO for TDS verification, finding no infirmity in remand order for credit verification. Case-Laws Income Tax Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763504