https://www.taxtmi.com/caselaws?id=791648 A domestic company may claim the concessional 25% tax rate where its turnover or gross receipts in the preceding financial year do not exceed the prescribed threshold. The absence of a specific return-processing column for the turnover figure does not, by itself, justify rejection of the claim. The turnover position should be verified from audited accounts and other relevant material. The issue was therefore restored to the Assessing Officer for verification, and the reduced rate will apply if the threshold is not crossed. en-us Tue, 12 May 2026 00:00:00 +0530 Thu, 14 May 2026 09:01:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791648 A domestic company may claim the concessional 25% tax rate where its turnover or gross receipts in the preceding financial year do not exceed the prescribed threshold. The absence of a specific return-processing column for the turnover figure does not, by itself, justify rejection of the claim. The turnover position should be verified from audited accounts and other relevant material. The issue was therefore restored to the Assessing Officer for verification, and the reduced rate will apply if the threshold is not crossed. Case-Laws Income Tax Tue, 12 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791648