2025 (7) TMI 294

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....n disallowing / denial of the claim of the assessee regarding option u/s 115BAC of the Act, therefore I have decided to adjudicate the above grounds through the present consolidated order. 3. I have heard the counsels for both the parties, perused the material placed on record, judgements cited before for me and also the orders passed by the revenue authorities. From the records, I noticed that as per the facts of the case, the assessee being an individual and senior citizen was being assessed to tax for the last many years. Assessee opted to avail of the lower regime of tax as per section 115BAC of the Act and did not claim deduction under chapter VIA. However, the said claim was rejected on the ground that the assessee himself had withdr....

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....21-22 or 2022-23 or 2023-24 by uploading form 101E on or before the due date of submission of the return of income u/s 139(1). 6. As per the peculiar facts and circumstances of the present case, the option exercised by the assessee of lower new tax regime was rejected, taking into consideration the previous assessment year option of assessee in opting out, lower new tax regime. But considering the overall facts, I am of the view that each assessment year is separate and the intention to opt for the lower new tax regime as per section 115BAC of the assessee is from day one as even during the previous assessment year, the assessee had opted for lower new text regime, however, the said claim of the assessee was rejected on technical considera....