https://www.taxtmi.com/caselaws?id=764636 ITAT Delhi allowed the appeal regarding Section 115BAA benefits for AY 2022-23. The assessee was denied reduced tax rates (22% and 10%) and charged higher rates (25% and 12%) due to delayed filing of Form 10IC for AY 2021-22. ITAT held that Form 10IC needs to be filed only once, and since the assessee filed it on 31/03/2022 before the return filing deadline of 30/11/2022 for AY 2022-23, the benefit should be granted. The tribunal set aside orders of AO and CIT(A), directing application of reduced tax rates under Section 115BAA for the assessment year under consideration. en-us Fri, 10 Jan 2025 00:00:00 +0530 Wed, 15 Jan 2025 07:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764636 ITAT Delhi allowed the appeal regarding Section 115BAA benefits for AY 2022-23. The assessee was denied reduced tax rates (22% and 10%) and charged higher rates (25% and 12%) due to delayed filing of Form 10IC for AY 2021-22. ITAT held that Form 10IC needs to be filed only once, and since the assessee filed it on 31/03/2022 before the return filing deadline of 30/11/2022 for AY 2022-23, the benefit should be granted. The tribunal set aside orders of AO and CIT(A), directing application of reduced tax rates under Section 115BAA for the assessment year under consideration. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764636