Benefit of new tax regime under Section 115BAC Allowed Despite Belated Filing of Form 10IE 

Rajeev Pandurang Kamat Vs ITO (ITAT Pune) Income Tax Appellate Tribunal (ITAT) Pune Bench, in a decision pronounced on May 5, 2025, has ruled in favor of Rajeev Pandurang Kamat, an individual assessee, allowing him the benefit of the new tax regime under Section 115BAC of the Income Tax Act, 1961, for Assessment Year (AY) 2023-24. The Tribunal’s decision overturns the orders of the Central Processing Centre (CPC), Bengaluru, and the Additional/Joint Commissioner of Income Tax (Appeals)-1, Ludhiana (Addl./JCIT(A)), which had denied the benefit citing a failure to file the prescribed Form ...