Form 10IE Directory Not Mandatory: ITAT Allows New Income Tax Regime benefit

Akshay Devendra Birari Vs DCIT (ITAT Pune)  The case of Akshay Devendra Birari Vs DCIT (ITAT Pune) revolves around the applicability of the new income tax regime introduced in A.Y. 2023-24. Mr. Birari, an individual taxpayer, challenged the denial of benefits under the new tax regime due to procedural lapses regarding Form No.10IE. Mr. Birari filed his income tax return for A.Y. 2023-24 under section 115BAC, opting for the new tax regime. However, the Central Processing Center (CPC) denied the benefit as he submitted Form No.10IE after the prescribed due date of 31st July 2023. The issue befo...