TaxTMI 
TaxTMI 
2024 (3) TMI 1404
X X X X Extracts X X X X
X X X X Extracts X X X X
....income of Rs. 58,69,56,530/- on which Income tax @ 22% along with surcharge @ 10% and cess @ 4% was paid. The return of income filed by assessee was processed and assessee company has received an intimation u/s 143(1) of the Act under which tax on the total income was calculated @ 25% along with surcharge @ 12%, cess @ 4% and interest thereby raising a total demand of Rs. 2,96,02,670/- without taking cognizance of the fact that appellant had duly opted for benefit of the taxation rate u/s 115BAA of the Act. 3. Aggrieved by the above order, assessee went into appeal before the ld. CIT(A) where assessee filed its submission which is recorded in para 4 of the order. In the submission, the assessee had stated that assessee company while filing....
X X X X Extracts X X X X
X X X X Extracts X X X X
....fore the Tribunal. 6. We have heard the submission of both the parties. The ld. AR of the assessee submits that while filing the return of income electronically, the assessee opted for tax u/s 115BAA of the Act being domestic company. The assessee could not upload/filed Form No. 10IC online due to technical problem in the portal as well as pandemic was prevailed on that point of time. However, assessee has fulfilled all the requisite conditions to be taxed u/s 115BAA of the Act. He further stated that it was the first year of application of section 115BAA of the Act to avoid technical reasons for non uploading and for such hardship, the CBDT also issued Circular No. 6/22 dated 17.03.2022 for extending time period for filing Form No. 10IC. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....0 (Guj). iv. CIT vs Web Commerce India (P) Ltd. (2009) 318 ITR 135 (Delhi) v. CIT vs Kaira District Co-operative Milk Producers Union Ltd. (1979) 116 ITR 319 vi. CIT vs Sakal Relief Fund (2017) 81 Taxmann.com 396 (Bom) vii. CIT vs National Taj Traders (1980) 121 ITR 535 (SC) viii. Goodyear India Ltd. vs. State of Haryana & Ors. (1991) 188 ITR 403 (SC)." 8. On the other hand, ld. Sr. DR submits that assessee has not fulfilled the requisite condition for availing the benefit of section 115BAA of the Act. The assessee has not uploaded Form 10IC before or at the time of filing of return of income within the time period as prescribed u/s 139(1) of the Act. Even as per CBDT Circular No. 6/2022, the assessee has not uploaded ....