Section 115BAC Benefit Can’t Be Denied for Technical Delay

Sumana Arora Vs ITO (ITAT Bangalore) Technical Lapse Shouldn’t Defeat 115BAC Benefit- Form 10-IE Delay Is Procedural: ITAT Restores New Tax Regime Claim Bangalore ITAT “B” Bench, in Sumana Arora Vs ITO  (ITA Nos. 2449 & 2450/Bang/2024, AYs 2022-23 & 2023-24; order dated 31.01.2025), set aside the orders of CPC & CIT(A) and remanded the matter for de-novo consideration of the option exercised u/s 115BAC, holding that mere procedural delay in filing Form 10-IE should not defeat substantive tax benefit. Assessee had opted for the new tax regime u/s 115BAC by filing Form 10-IE ...