https://www.taxtmi.com/caselaws?id=797770 Failure to satisfy the conditions for the concessional corporate tax regime under Section 115BAA requires computation at the applicable normal rate. Where a company's turnover in the relevant preceding financial year did not exceed the prescribed threshold, its income is taxable at the normal corporate rate of 25%, rather than 30%. Denial of the concessional rate does not itself trigger the higher normal rate; the applicable ordinary rate remains determined by the turnover-based condition. en-us Wed, 19 Aug 2026 00:00:00 +0530 Thu, 27 Aug 2026 08:28:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797770 Failure to satisfy the conditions for the concessional corporate tax regime under Section 115BAA requires computation at the applicable normal rate. Where a company's turnover in the relevant preceding financial year did not exceed the prescribed threshold, its income is taxable at the normal corporate rate of 25%, rather than 30%. Denial of the concessional rate does not itself trigger the higher normal rate; the applicable ordinary rate remains determined by the turnover-based condition. Case-Laws Income Tax Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797770