https://www.taxtmi.com/caselaws?id=467649 Failure to file Form 10-IC could justify denial of the concessional corporate tax regime, but it did not authorise taxation above the rate prescribed by the Finance Act. Where the company's turnover was below the relevant threshold, the applicable statutory rate remained 25%, so levy at 30% was not sustainable. The TDS credit claim was not rejected on merits and had to be verified against the supporting records, with credit granted in accordance with law. The substantive tax-rate issue was resolved in favour of the assessee, and the TDS matter was restored for verification and consequential relief. en-us Mon, 17 Feb 2025 00:00:00 +0530 Fri, 27 Mar 2026 19:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467649 Failure to file Form 10-IC could justify denial of the concessional corporate tax regime, but it did not authorise taxation above the rate prescribed by the Finance Act. Where the company's turnover was below the relevant threshold, the applicable statutory rate remained 25%, so levy at 30% was not sustainable. The TDS credit claim was not rejected on merits and had to be verified against the supporting records, with credit granted in accordance with law. The substantive tax-rate issue was resolved in favour of the assessee, and the TDS matter was restored for verification and consequential relief. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467649