https://www.taxtmi.com/caselaws?id=789746 Section 115BAB requires the option for the concessional tax regime to be exercised in the prescribed manner by the due date for the first return, and once validly exercised it applies to subsequent assessment years without withdrawal. Here, the assessee had already exercised the option in the earlier year by filing Form 10-ID, so the present year was only a subsequent year of claim. The later treatment of the return as belated or invalid could not defeat the earlier exercise of option on a technical ground. The concessional tax rate under section 115BAB was therefore available, and the denial was unsustainable. en-us Thu, 12 Feb 2026 00:00:00 +0530 Tue, 14 Apr 2026 08:03:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789746 Section 115BAB requires the option for the concessional tax regime to be exercised in the prescribed manner by the due date for the first return, and once validly exercised it applies to subsequent assessment years without withdrawal. Here, the assessee had already exercised the option in the earlier year by filing Form 10-ID, so the present year was only a subsequent year of claim. The later treatment of the return as belated or invalid could not defeat the earlier exercise of option on a technical ground. The concessional tax rate under section 115BAB was therefore available, and the denial was unsustainable. Case-Laws Income Tax Thu, 12 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789746