https://www.taxtmi.com/caselaws?id=470703 Section 115BAC permits an individual or HUF to elect the new tax regime if the income-computation conditions under subsection (2) are met. The statutory invalidation of an option for subsequent years arises only from failure to meet those conditions, not merely from delayed filing of Form 10-IE or the return for an earlier year. Filing Form 10-IE was treated as directory, and no fresh form was required for later years after a valid option had been exercised unless that option became invalid on the specified statutory ground. Denial of the new-regime option solely because of prior-year filing delay was therefore unsustainable. en-us Mon, 29 Sep 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470703 Section 115BAC permits an individual or HUF to elect the new tax regime if the income-computation conditions under subsection (2) are met. The statutory invalidation of an option for subsequent years arises only from failure to meet those conditions, not merely from delayed filing of Form 10-IE or the return for an earlier year. Filing Form 10-IE was treated as directory, and no fresh form was required for later years after a valid option had been exercised unless that option became invalid on the specified statutory ground. Denial of the new-regime option solely because of prior-year filing delay was therefore unsustainable. Case-Laws Income Tax Mon, 29 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470703