Belated Form 10-IC filing treated as procedural lapse where section 115BAA option was clearly exercised

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....Belated filing of Form 10-IC was treated as a procedural lapse where the assessee had clearly opted for the concessional regime under section 115BAA by computing tax accordingly in the return and the form was on record when the return was processed. As the form had not been withdrawn, rejected or invalidated, and eligibility for the lower rate was undisputed, the delay did not justify denial of the statutory benefit. Tax was directed to be recomputed at the concessional rate under section 115BAA.....