https://www.taxtmi.com/caselaws?id=471542 Section 115BAB was harmoniously construed to avoid requiring an impossible act: a qualifying company must exercise its option through Form 10-ID with its first return, yet manufacturing or production may commence by 31 March 2024. A company whose manufacturing had not begun in assessment year 2023-24 was ineligible for the concessional regime for that year. However, where manufacturing commences on or before the statutory cut-off, entitlement for subsequent assessment years must be considered and cannot be denied solely because the original Form 10-ID was filed before commencement. en-us Tue, 15 Oct 2024 00:00:00 +0530 Tue, 08 Sep 2026 19:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471542 Section 115BAB was harmoniously construed to avoid requiring an impossible act: a qualifying company must exercise its option through Form 10-ID with its first return, yet manufacturing or production may commence by 31 March 2024. A company whose manufacturing had not begun in assessment year 2023-24 was ineligible for the concessional regime for that year. However, where manufacturing commences on or before the statutory cut-off, entitlement for subsequent assessment years must be considered and cannot be denied solely because the original Form 10-ID was filed before commencement. Case-Laws Income Tax Tue, 15 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471542