https://www.taxtmi.com/caselaws?id=802028 Section 115BAA allows a domestic company to elect the prescribed concessional tax rate by filing Form No. 10-IC within the specified time, subject to statutory conditions. Once validly exercised, the option is irrevocable and applies to subsequent assessment years; Form No. 10-IC is not required annually. Where the initial option was accepted and no breach of conditions or invalidity of the election arises, the concessional rate continues to govern later assessment years, requiring tax computation on that basis. en-us Fri, 18 Sep 2026 00:00:00 +0530 Fri, 30 Oct 2026 08:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802028 Section 115BAA allows a domestic company to elect the prescribed concessional tax rate by filing Form No. 10-IC within the specified time, subject to statutory conditions. Once validly exercised, the option is irrevocable and applies to subsequent assessment years; Form No. 10-IC is not required annually. Where the initial option was accepted and no breach of conditions or invalidity of the election arises, the concessional rate continues to govern later assessment years, requiring tax computation on that basis. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802028