2024 (7) TMI 825

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... 21/02/2023, passed u/s 250 of the Income Tax Act, 1961 ("the Act") for the Assessment Year 2020-21. 2. The sole grievance of the assessee is that the ld. CIT(A) erred in rejecting the claim of the assessee for reduced rate of tax provided u/s 115BBA of Act for non-submission of Form No.10-IC as a result of which, income of the assessee has been taxed @ 30% instead of @ 22%. 3. At the time of hearing, application has been filed by the assessee which states for non-submission of Form 10-IC, assessee was denied the claim of reduced rate of tax provided u/s 115BBA of the Act. It is also stated that after filing of the appeal before this Tribunal, the assessee also filed an application for condonation of delay before ld. Pr. CIT - 1, Kol....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....still no having the access for filing the Form 10IC. This being a technical aspect, needs to be taken care of by the revenue authorities and the income of the assessee needs to be taxed @ 22% as against 30% levied by the CPC. Accordingly, Ground Nos. 1, 2, 3, 4 & 5 raised by the assessee are hereby allowed. So far as Ground No. 6 is concerned, the same has been raised alternatively stating that the normal tax rate applicable for the companies for Assessment Year 2020-21 is 25% and not 20%. However, as we have already allowed Ground Nos. 1 to 5, dealing with Ground No. 6 will be merely academic in nature and hence the same is not dealt with. 6. In the result, appeal of the assessee is allowed. Order pronounced in the Court on 30th Nove....