https://www.taxtmi.com/caselaws?id=460495 The court determined that the procedural lapse in not filing Form 10IC should not prevent the assessee from accessing the concessional tax rate under Section 115BAA of the Income Tax Act. It emphasized that procedural requirements should not override substantive rights, particularly when technical difficulties are involved. The court directed that Form 10IC be accepted and considered with the income return. The Assessing Officer was instructed to verify the form and decide on the concessional rate entitlement, ensuring the assessee is heard per natural justice principles. The appeal was partly allowed for statistical purposes, necessitating further verification. en-us Mon, 30 Sep 2024 00:00:00 +0530 Tue, 28 Jan 2025 18:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460495 The court determined that the procedural lapse in not filing Form 10IC should not prevent the assessee from accessing the concessional tax rate under Section 115BAA of the Income Tax Act. It emphasized that procedural requirements should not override substantive rights, particularly when technical difficulties are involved. The court directed that Form 10IC be accepted and considered with the income return. The Assessing Officer was instructed to verify the form and decide on the concessional rate entitlement, ensuring the assessee is heard per natural justice principles. The appeal was partly allowed for statistical purposes, necessitating further verification. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460495