https://www.taxtmi.com/caselaws?id=774226 The HC allowed the assessee's appeal regarding the option under section 115BAC for AY 2023-24. Despite the rejection of the lower tax regime option for AY 2022-23 due to late filing, the Court held that each assessment year's option is independent. The assessee, a senior citizen, had timely filed the return for AY 2023-24 opting for the beneficial regime. The Court applied the principle of beneficial construction, emphasizing that section 115BAC is beneficial legislation designed to reduce tax burden. The CIT(A)'s order disallowing the option was quashed, and the AO was directed to pass fresh orders considering the return filed under section 115BAC. en-us Tue, 27 May 2025 00:00:00 +0530 Sat, 05 Jul 2025 08:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774226 The HC allowed the assessee's appeal regarding the option under section 115BAC for AY 2023-24. Despite the rejection of the lower tax regime option for AY 2022-23 due to late filing, the Court held that each assessment year's option is independent. The assessee, a senior citizen, had timely filed the return for AY 2023-24 opting for the beneficial regime. The Court applied the principle of beneficial construction, emphasizing that section 115BAC is beneficial legislation designed to reduce tax burden. The CIT(A)'s order disallowing the option was quashed, and the AO was directed to pass fresh orders considering the return filed under section 115BAC. Case-Laws Income Tax Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774226