TaxTMI 
TaxTMI 
2025 (7) TMI 427
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....ts and in the circumstances of the case und in the law, Ld.CIT(A) is correct in allowing the computation of the tax liability of the assessee for A. Y. 2023-24 as per new tax regime u/s 115BAA, even when the declaration in the Form 10-IC is in name of Mr. Chandrasekaran Natrajan on behalf of the assessee while Form is not digitally signed/ verified by him." 3. The brief facts qua the issue involved are that assessee, TATA Sons Pvt. Ltd. (TSPL) has filed its return of income for the A.Y.2023-24 on 25/11/2023 declaring total income of Rs. 3,09,85,48,16,640/- In the return of income assessee has claimed lower rate of tax u/s. 115BAA. The claim for lower rate of tax u/s. 115BBA was first updated in the A.Y. 2022-23. This is evident from tax ....
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....g to the facts of the relevant assessment year, following chronology of events have been stated before us:- 27th October 2023 Tax Audit filed - option continued for section 115BAA 26th November 2023 Return of income- ITR 6 filed (continuing option for section 115BAA) wherein acknowledgment details of Form 10-IC filed in AY 2022-23 were provided. 6th December 2023 143(1)(a) issued proposing adjustment of disallowance of set of loss of AY 2021-22 (Page no 22 of 30 Impugned intimation u/s. 143(1) 2nd January 2024 Response to 143(1)(a) submitted online and before JAO. TSPL made detailed submission as to why adjustments of disallowance of set of loss were not required 20th July 2024 Impugned Intimation u/s 143(1) ac....
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....10IC (which was originally signed and verified by the Chairman), when it was downloaded again, it mentioned the name of Mr. Eruch in the signatory part. Assessee in response to the ld. JAO was as under:- "On the income tax website (https://eportal incometax.gov.in/iec/foservices/#/login) ('e-filing portal"), a corporate taxpayer is required to register details of all the key persons (to be entered under the profile tab) to use the functionality of the website le to file return of income, forms, file an appeal, rectification, foreign remittance forma etc. Therefore, after login on the e-filing income-lax portal, taxpayers can submit the details of its key person on the portal and register their respective Digital Signatures. In ....
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....x regime u/s. 115BBA in the A.Y.2022-23 and also filed requisite Form 10-IC on 21/11/2022. While processing the return, CPC / ld. AO has accepted the new tax regime u/s. 115BBA. Once Form 10-IC has been filed in the preceding assessment year which is followed in the subsequent assessment years also, then there is no reason to deny any benefit of Section 115BBA. The intimation u/s. 143(1) for A.Y.2023-24 on the ground that Form 10-IC was not filed or which was filed later on the demand of the ld. AO, then it was found that it was signed by other person. It has been clarified that, in the login of e-file income tax portals, tax payers can submit details of its key persons on the portal and register their respective digital signature. The tax ....