Claiming new tax regime u/s 115BAC after late Form 10-IE and delayed return - remanded for verification

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Whether a taxpayer may elect the new tax regime after filing Form 10-IE late and lodging a delayed return was considered; the analysis treats late filing of Form 10-IE as a procedural lapse that ordinarily should not extinguish entitlement to the new regime, but a late return renders the new-regime election infirm, requiring application of the old regime and further assessment on that basis. The matter was remanded to the Assessing Officer to admit and verify alternative deduction claims (80C, 80TTA analogues) and to grant relief if substantiated; appeal allowed for statistical purposes.....