https://www.taxtmi.com/caselaws?id=460494 ITAT Mumbai allowed assessee's appeal against disallowance of 22% tax rate under Sec 115BAA for non-filing of Form 10IC. Tribunal held that procedural requirements should not override substantive benefits when all other conditions are met. Court emphasized that claiming deduction is mandatory but timing/format is directory. Since assessee claimed benefit in ITR-6 filed within prescribed time and CPC Bengaluru failed to follow proper procedure by not providing hearing opportunity, jurisdictional AO was directed to allow fresh opportunity for filing Form 10IC and revise tax computation accordingly under Sec 115BAA provisions. en-us Wed, 21 Aug 2024 00:00:00 +0530 Tue, 28 Jan 2025 12:12:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460494 ITAT Mumbai allowed assessee's appeal against disallowance of 22% tax rate under Sec 115BAA for non-filing of Form 10IC. Tribunal held that procedural requirements should not override substantive benefits when all other conditions are met. Court emphasized that claiming deduction is mandatory but timing/format is directory. Since assessee claimed benefit in ITR-6 filed within prescribed time and CPC Bengaluru failed to follow proper procedure by not providing hearing opportunity, jurisdictional AO was directed to allow fresh opportunity for filing Form 10IC and revise tax computation accordingly under Sec 115BAA provisions. Case-Laws Income Tax Wed, 21 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460494