Form 10-IC Error does not bind assessee to New Tax Regime: ITAT Mumbai

Brahmos Realty Private Limited Vs ITO (ITAT Mumbai) Form 10-IC Error does not bind assessee to New Tax Regime – ITAT Mumbai restores MAT Credit Claim Mumbai ITAT delivered relief to Assessee-company holding that the inadvertent filing of Form 10-IC does not irrevocably bind a company to the concessional tax regime u/s 115BAA, particularly when the return of income & tax audit report clearly indicate adoption of the old regime. Assessee filed its return of income on 04.11.2024, declaring taxable income of ₹47.53 lakh under the old regime at 25% & claimed set-off of MAT credit amount...