https://www.taxtmi.com/caselaws?id=471565 Section 115BAB requires the prescribed option to be furnished for the first assessment year in which the concessional manufacturing tax regime is claimed. A nil return filed after incorporation, before business or manufacturing activities begin, does not constitute that operative first year. Where manufacturing commenced on 3 January 2023, filing Form 10ID within time with the return for assessment year 2023-24 satisfied the requirement. The taxpayer was therefore eligible for the concessional tax rate for that assessment year. en-us Tue, 08 Apr 2025 00:00:00 +0530 Wed, 09 Sep 2026 13:32:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471565 Section 115BAB requires the prescribed option to be furnished for the first assessment year in which the concessional manufacturing tax regime is claimed. A nil return filed after incorporation, before business or manufacturing activities begin, does not constitute that operative first year. Where manufacturing commenced on 3 January 2023, filing Form 10ID within time with the return for assessment year 2023-24 satisfied the requirement. The taxpayer was therefore eligible for the concessional tax rate for that assessment year. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471565