2025 (12) TMI 1507

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... has raised the following grounds of appeal: "1. On the facts and circumstances of the case and in law, the Id. CTT(A) has grossly erred in confirming the Action of the Ld. AO erred in determining the income tax payable under section 115JC without appreciating that I had duly Opted to pay Tax under section 115BAC. 2. It is humbly prayed that the Ld. AO may please be directed to determine my sax payable for the year under reference u/s 115BAC and relief be granted. 1, the appellant Crave leave to add, alter, amend, amplify or delete any of the above mentioned Ground of Appeal on or before or at the Time of hearing." 2. The brief facts of the case are that the assessee an individual, filed her return of income for AY 2023....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Act. 4.1. The Ld. CIT(A) after considering the submissions of the assessee and the material on record noted that the assessee had filed Form 10IE for AY 2022- 23 on 08/11/2022, whereas, the last date for filing Form 10IE was extended upto 07/11/2022. Since the filing of the Form 10IE was delayed by one day, therefore, the CPC processed the return of the assessee for AY 2022-23 under the old regime. The Ld. CIT(A) referring to the provisions of Section 115BAC of the Act, observed that in order to get the benefit of new tax regime u/s. 115BAC of the Act, the assessee was required to file the Form 10IE within the due date specified u/s. 139(1) of the Act for filing of return of income, beginning from 2021-22 and the option, once exercised w....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to the assessment year commencing on or after the 1st day of April, 2021, and such option once exercised shall apply to subsequent assessment years; (ii) having income other than the income referred to in clause (i), alongwith the return of income to be furnished under sub-section (1) of section 139 for a previous year relevant to the assessment year: Provided that the option under clause (i), once exercised for any previous year can be withdrawn only once for a previous year other than the year in which it was exercised and thereafter, the person shall never be eligible to exercise option under this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 under clause (....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....enefit of the taxation under the new regime because of delayed filing of Form 10IE for AY 2022-23. However, the said Form was well within time for AY 2023-24. There was no option to the assessee to file a fresh Form for AY 2023-24 as the option to file the Form 10IE, as noted by the CIT(A) also, could be exercised once by the assessee and that option stood exercised by the assessee on 08/11/2022. The assessee duly mentioned in the return of income for AY 2023-24 that Form 10IE was already on record and also Acknowledgement number and date of filing of the said Form and it has been duly intimated to the authorities that she has not withdrawn the exercised option of taxation under the new regime and that return may be processed and she may be....