Belated Form 10-IE Does Not Invalidate Continuing Section 115BAC Option: ITAT Pune

Advertisement Seema Kulkarni Vs ITO (ITAT Pune) The appeal before the ITAT Pune arose from the order of the Additional/Joint Commissioner of Income Tax (Appeals), Panaji, for Assessment Year (AY) 2023-24. The assessee, an individual deriving income mainly from profession, filed her return of income on 26.06.2023 declaring income under the new tax regime under Section 115BAC of the Income-tax Act, 1961. While processing the return under Section 143(1), the Central Processing Centre (CPC) denied the benefit of Section 115BAC and raised a tax demand on the ground that Form 10IE for AY 2022-23 ...