https://www.taxtmi.com/caselaws?id=771885 The Delhi HC dismissed the petitioner's claim for lower taxation under Section 115BAA. The petitioner filed its return on 13.02.2021 within the extended due date but expressly indicated it was not opting for taxation under Section 115BAA by selecting "none of above" in the relevant field. The court rejected arguments that there was no specific box to reflect the option or that the selection was inadvertent. The court held that CBDT Circular No. 6/2022 only extended time for filing Form 10-IC but did not relax the condition requiring affirmative exercise of the option before the prescribed filing deadline. Since the petitioner had not opted for Section 115BAA taxation in its return, it could not subsequently claim the benefit of lower tax rates. en-us Wed, 28 May 2025 00:00:00 +0530 Tue, 14 Jul 2026 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771885 The Delhi HC dismissed the petitioner's claim for lower taxation under Section 115BAA. The petitioner filed its return on 13.02.2021 within the extended due date but expressly indicated it was not opting for taxation under Section 115BAA by selecting "none of above" in the relevant field. The court rejected arguments that there was no specific box to reflect the option or that the selection was inadvertent. The court held that CBDT Circular No. 6/2022 only extended time for filing Form 10-IC but did not relax the condition requiring affirmative exercise of the option before the prescribed filing deadline. Since the petitioner had not opted for Section 115BAA taxation in its return, it could not subsequently claim the benefit of lower tax rates. Case-Laws Income Tax Wed, 28 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771885