Old vs New Regime Dispute Ends – CBDT Circular & CPC Rectification Resolve 115BAA Claim

Ma Shanti Agro Foods Pvt. Ltd. Vs ACIT (ITAT Kolkata) Old vs New Regime Dispute Ends – CBDT Circular & CPC Rectification Resolve 115BAA Claim; Tax Regime Issue Resolved by CPC Rectification – ITAT Kolkata Closes Appeal Assessee had filed return on 13.02.2022 declaring income of Rs. 1.58 crore & opted for concessional tax regime u/s 115BAA. CPC, while processing return, issued intimation u/s 143(1) on 13.11.2022 applying old regime tax rates, determining liability at Rs. 56.43 lakh. CIT(A) upheld CPC action, holding that Assessee had not filed condonation application for delay ...