TaxTMI 
TaxTMI 
2025 (11) TMI 1847
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.... of the intimation order dated 20-06-2024 passed by the CPC Bengaluru under Section 143(1) of the Income Tax Act, 1961 [hereinafter referred as 'the Act']. 2. The assessee has raised the following grounds of appeal: 1. That on the facts and the circumstances of the case and in law, the order dated 23-12-2024 passed by the Commissioner of Income Tax (Appeals) ["CIT(A)"] under section 250 of the Income Tax Act 1961 ("the Act") in the case of the Appellant for assessment year 2020-21 is patently erroneous, unsustainable and bad in law. 2. That the CIT(A) erred on facts and in law in not allowing benefit of concessional tax rate under section 115BAA of the Act to the appellant, on ground that the Appellant had not establish....
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....led the appeal before the Ld CIT(A), who vide his order dated 23-12-2024 partly allowed the appeal. Ld. CIT(A) has observed in his order as under: Ground relating to Failure to consider option opted under 115BAA: 4.5 In the return of income filed by the appellant for AY 2020- 21, the appellant had exercised the option for being taxed at a rate of 22% (plus applicable surcharge and education cess) under section 115BAA of the Act. 4.6 The appellant had submitted that the appellant inadvertently did not file Form 10IC on the e-filling portal within the prescribed time limit i.e. until the due date for filing return of income under section 139(1) of the Act. 4.7 In order to the avail the benefit of concession....
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....onths from the end of month in which this circular is issued, which is later. The assessee has uploaded the Form No. 10IC on 06-05-2022. The Circular No.6/2022 dated 17th March, 2022 issued by the CBDT and the uploaded Form 10IC by the assessee are as under: 6. The assessee has placed reliance on the following decisions :- 1. KN Support Services (P) Ltd. vs. DCIT [2025] 178 taxmnna.com 368 (Del Trib.) 2. Kworks Technologies (P) Ltd. vs. DCIT [2025] 178 taxmann.com 61 (Del Trib.) 3. Aprameya Engineering Ltd. vs. ITO [2024] 164 taxman.com 740 (Ahd Trib.) 4. Kcreate Konnect E Solutiosn (P) Ltd. vs. DCIT [2025] 176 taxmna.com 998 5. Madison Communications (P) Ltd. vs. ACIT [2024] 206 ITD 774 (Mum ....
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....revious year relevant to the assessment year beginning on or after the Ist day of April, 2020, shall, at the option of such person be computed at the rate of twenty-two per cent subject to satisfaction of conditions contained in sub-section(2) of the Section. 1.2 As per subsection (5) of section 115 BAA of the Act read with Rule 21AE of the Income-tax Rules, 1962 (the Rules), the assessee company is required to submit Form 10- IC electronically on or before the due date of filing of return of income u/s 139(1) of the Act and such option once exercised shall apply to subsequent assessment years. 1.3 Failure to furnish such option in the prescribed form on or before the due date specified u/s 139(1) of the Act results in denial of conce....
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....ler of Accounts, New Delhi 6. All Joint Secretaries/CsIT, CBDT 7. CIT(M&TP), CBDT and Official spokesperson of CBDT. 8. The Additional Director General (PR & PP), New Delhi. 9. Addl. CIT, Data-Base Cell - for placing it on www.irsofficersonline.gov.in 10. Web Manager, O/o Pr.DGIT(Systems) with request to upload on the departmental website. 11. The Guard File. (Sourabh Jain) Under Secretary (ITA-I) Document 3 Form No. 10-IC[Sub-rule (1) of rule 21AE] Application for exercise of option under sub-section (5) of section 115BAA of the Income - tax Act, 1961 Acknowledgement Number -609117470060522 e-Filing Depubert Angre TO The Assessing Officer DEL C 36 1 DCIT CIRCLE 16(1) DELHI Sir/Madam MI SAJU MOOKKEN o....