https://www.taxtmi.com/caselaws?id=778457 ITAT held that once the taxpayer files Form 10-IC to opt into section 115BAA the option cannot be withdrawn for the same or subsequent years, but the benefit is conditional. Where statutory conditions (including prohibition on claiming MAT credit under section 115JAA(8)) are not met, the purported option is treated as if not exercised and is therefore invalidated. The matter was remanded to the file of the CIT(A) for verification of the MAT credit claim and for recomputation of tax liability under the old regime if the MAT credit is legitimately allowable. en-us Tue, 19 Aug 2025 00:00:00 +0530 Wed, 17 Sep 2025 08:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778457 ITAT held that once the taxpayer files Form 10-IC to opt into section 115BAA the option cannot be withdrawn for the same or subsequent years, but the benefit is conditional. Where statutory conditions (including prohibition on claiming MAT credit under section 115JAA(8)) are not met, the purported option is treated as if not exercised and is therefore invalidated. The matter was remanded to the file of the CIT(A) for verification of the MAT credit claim and for recomputation of tax liability under the old regime if the MAT credit is legitimately allowable. Case-Laws Income Tax Tue, 19 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778457