https://www.taxtmi.com/caselaws?id=791098 Delay in filing Form 10IC did not, by itself, defeat the assessee's option for concessional taxation under section 115BAA where the option was exercised in the return of income within time and tax was computed accordingly. The form was treated as a procedural mode of intimation, and procedural lapse was held not to override substantive entitlement. The Tribunal also noted that the appellate forum could examine the correct tax rate in assessment proceedings and that no prejudice to the Revenue was shown. The concessional rate was therefore available, subject to verification by the Assessing Officer. en-us Fri, 27 Mar 2026 00:00:00 +0530 Tue, 05 May 2026 15:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791098 Delay in filing Form 10IC did not, by itself, defeat the assessee's option for concessional taxation under section 115BAA where the option was exercised in the return of income within time and tax was computed accordingly. The form was treated as a procedural mode of intimation, and procedural lapse was held not to override substantive entitlement. The Tribunal also noted that the appellate forum could examine the correct tax rate in assessment proceedings and that no prejudice to the Revenue was shown. The concessional rate was therefore available, subject to verification by the Assessing Officer. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791098