2026 (8) TMI 1179

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.... the Respondent : Shri Ajay Soneji, Sr. DR ORDER PER SAKTIJIT DEY, VICE PRESIDENT: Captioned appeal by the assessee arises out of order dated 15.01.2026 of learned Commissioner of Income Tax (Appeals), Mumbai ('ld.CIT(A) for short) dated for the assessment year (A.Y.) 2020-21. 2. The solitary dispute in the appeal relates to the applicable tax rate on the income returned by the assesse....

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....e tax rate, it should have filed a revised return of income. The assessee having not done so, learned first appellate authority held that claim cannot be accepted. 4. We have considered rival submissions and perused the materials available on record. It is the say of ld. Counsel appearing for the assessee before us that as per the Finance Act itself a company having turnover of less than Rs. 25....