2025 (4) TMI 839

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....024. 2. When the appeal was called for, none appeared on behalf of the assessee. However, considering the smallness of the issue and the same being claimed to be covered by the decision of this Tribunal in the case of Akshay Devendra Birari Vs. DCIT in ITA No.782/PUN/2024, dated 05.06.2024, I proceed to adjudicate the appeal with the assistance of ld. Departmental Representative and available record. 3. Grounds of appeal raised by the assessee read as under : "On the facts and circumstances of the case and in law, the Ld. Addl/JCIT has:- 1. Erred in adjudicating that the Appellant is not entitled for lower rate of tax under the New Tax Regime for AY 2023-2024 even though Form 10-IE was already filed on 10-10-2022 for....

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.... the assessee on the ground that Form No.10IE was filed belatedly. When the assessee approached ld. CIT(A) challenging the order of CPC u/s.143(1)(1) of the Act he failed to get any relief as ld. CIT(A) taking cognizance of Form No.10IE filed on 10.10.2022 held that the same pertain to A.Y. 2022-2023 and being filed belatedly, the assessee is not eligible for any claim u/s.115BAC. The ld. CIT(A) further held that there is no valid Form No.10IE filed by the assessee and the action of CPC denying lower rate of taxation u/s.115BAC is correct for this year and in order. 5. Aggrieved assessee is in appeal before this Tribunal. 6. In the statement of facts and the grounds of appeal, it is claimed by the assessee that once Form No.10IE was f....

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....which it was exercised and thereafter, the person shall never be eligible to exercise option under this section, except where such person ceases to have any income from business or profession in which case, option u/s.115BAC(5)(ii) of the Act shall be available. 10. On perusal of the above contents of section 115BAC of the Act, I notice that the assessee has to make the claim once and then it is applicable for subsequent years subject to proviso referred above. In the instant case, the assessee furnished a claim on Form No.10IE on 10.10.2022. Admittedly, the due date for A.Y. 2022-23 expired prior to filing of Form No.10IE on 10.10.2022 and therefore assessee could not get the benefit of section 115BAC of the Act for the A.Y. 2022-23. Ho....