https://www.taxtmi.com/highlights?id=97849 Admissibility of a belated exercise of the option for the concessional tax regime under section 115BAA turned on procedural compliance versus substantive intention: Tribunal held that filing Form No.10IC prior to processing together with a defect-corrected/revised return demonstrated clear intention to opt for 115BAA, relied on coordinate-bench precedents favouring substance over minor procedural lapses, distinguished contrary authority on its facts, allowed the appeal and directed the Assessing Officer to verify Form No.10IC and grant the concessional regime if the form was in order. en-us Thu, 19 Mar 2026 08:59:46 +0530 Thu, 19 Mar 2026 08:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97849 Admissibility of a belated exercise of the option for the concessional tax regime under section 115BAA turned on procedural compliance versus substantive intention: Tribunal held that filing Form No.10IC prior to processing together with a defect-corrected/revised return demonstrated clear intention to opt for 115BAA, relied on coordinate-bench precedents favouring substance over minor procedural lapses, distinguished contrary authority on its facts, allowed the appeal and directed the Assessing Officer to verify Form No.10IC and grant the concessional regime if the form was in order. Highlights Income Tax Thu, 19 Mar 2026 08:59:46 +0530 https://www.taxtmi.com/highlights?id=97849