https://www.taxtmi.com/caselaws?id=770008 ITAT Ahmedabad ruled in favor of the assessee regarding denial of tax option under section 115BAC. The assessee had opted for the new tax regime and filed Form 10-IE in the preceding year, though belatedly. The court held that late filing of Form 10-IE does not invalidate the option exercise, as the mandate is directory, not mandatory. Since the assessee validly exercised the option previously, no fresh Form 10-IE was required for subsequent years. The tribunal also condoned a 71-day delay in appeal filing due to counsel's preoccupation. en-us Tue, 29 Apr 2025 00:00:00 +0530 Sat, 03 May 2025 10:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770008 ITAT Ahmedabad ruled in favor of the assessee regarding denial of tax option under section 115BAC. The assessee had opted for the new tax regime and filed Form 10-IE in the preceding year, though belatedly. The court held that late filing of Form 10-IE does not invalidate the option exercise, as the mandate is directory, not mandatory. Since the assessee validly exercised the option previously, no fresh Form 10-IE was required for subsequent years. The tribunal also condoned a 71-day delay in appeal filing due to counsel's preoccupation. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770008