2025 (11) TMI 1656

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....hese appeals are absolutely similar and identical, therefore, the cases may be taken up together and dispose of vide this consolidated order. 3. In these appeals the limited point for adjudication is whether CPC/A.O was correct in making disallowance of concessional tax rate @15% u/s. 115BAB of the Income Tax Act, 1961 (for short 'the Act') which was upheld by the Ld. CIT(Appeals)/NFAC. In this regard, the findings of the Ld. CIT(Appeals)/NFAC are extracted as follows: "5.4 I have carefully considered the appellant's submission. Here it is pertinent to mention that to claim the benefit of concessional tax rate @15% as per provisions of Section 115BAB of the I.T.Act; Form No.10ID have to file on or before the due date specified u....

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....4, the Ld. Counsel pointed out that in the income tax return, they had mentioned in the Column " Have you opted for taxation under section 115BA/115BAA/115BAB (applicable on Domestic company) and therein the assessee had mentioned "none of the above" mentioning that for the earlier year, they had not made such option. However, in the "column" appearing thereafter, it is written "whether you are choosing to opt for taxation under section 115BA /115BAA/115BAB in this year?" and for that, the assessee had given option as "Yes", therefore, there has been wrong interpretation of the income tax return by the revenue authorities. 6. I have carefully considered the facts on record and the income tax returns as emanating from the order of the Ld.....

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....sult, appeal of the assessee in ITA No.381/RPR/2025 for A.Y.2024-25 is allowed for statistical purposes. 12. In the combined result, both the appeals of the assessee are allowed for statistical purposes. Order pronounced in open court on 23rd day of July, 2025. ============= Document 1 Have you opted for taxation under section 115BA/115BAA/115BAB? (applicable on Domestic Company) "None of above" If Yes, please furnish the AY in which said option is exercised for the first time along with date of filing of relevant form (10-IB/ 10-IC/ 10-ÃŽD) & acknowledgement number. Assessment Year Date of filing Have you opted for taxation under section 115BA/115BAA/115BAB? (applicable on Domestic Company) Under filling sta....