https://www.taxtmi.com/caselaws?id=774613 Bombay HC quashed revenue's order denying condonation of 247-day delay in filing Form 10IC under section 115BAA. The assessee company satisfied all three conditions stipulated in CBDT Circular: timely filing of return, proper option selection in ITR-6, and electronic filing of Form 10IC before prescribed deadline. HC rejected revenue's arguments that prior processing under section 143(1) with demand raised or AO's detection of delay would disqualify the assessee from condonation. The court found CBDT Circular unambiguous with no such restrictive conditions and directed revenue to process return giving effect to timely filed Form 10IC. en-us Mon, 07 Jul 2025 00:00:00 +0530 Fri, 11 Jul 2025 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774613 Bombay HC quashed revenue's order denying condonation of 247-day delay in filing Form 10IC under section 115BAA. The assessee company satisfied all three conditions stipulated in CBDT Circular: timely filing of return, proper option selection in ITR-6, and electronic filing of Form 10IC before prescribed deadline. HC rejected revenue's arguments that prior processing under section 143(1) with demand raised or AO's detection of delay would disqualify the assessee from condonation. The court found CBDT Circular unambiguous with no such restrictive conditions and directed revenue to process return giving effect to timely filed Form 10IC. Case-Laws Income Tax Mon, 07 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774613