https://www.taxtmi.com/caselaws?id=793875 A valid exercise of the section 115BAA option depends on filing Form 10-IC within the applicable due date under section 139(1). The Tribunal noted that the due date could not be shortened merely because the assessee had not earlier furnished Form 3CEB or had marked an incorrect audit status in the return. Where the assessee fell within the class entitled to the later due date, Form 10-IC filed on 30.11.2022 for assessment year 2022-23 was treated as timely. The concessional tax regime under section 115BAA was therefore available, and computation under section 115JB was held not sustainable. en-us Wed, 22 Apr 2026 00:00:00 +0530 Thu, 25 Jun 2026 08:27:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793875 A valid exercise of the section 115BAA option depends on filing Form 10-IC within the applicable due date under section 139(1). The Tribunal noted that the due date could not be shortened merely because the assessee had not earlier furnished Form 3CEB or had marked an incorrect audit status in the return. Where the assessee fell within the class entitled to the later due date, Form 10-IC filed on 30.11.2022 for assessment year 2022-23 was treated as timely. The concessional tax regime under section 115BAA was therefore available, and computation under section 115JB was held not sustainable. Case-Laws Income Tax Wed, 22 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793875