Claim of concessional rate u/s. 115BAA to be reconsidered as Form 10-IC filed before 30.06.2022

Finecab Wires & Cables Pvt. Ltd. Vs DCIT (ITAT Hyderabad) ITAT Hyderabad directed to reconsider claim of concessional tax rate benefit u/s. 115BAA of the Income Tax Act since Form 10-IC filed belatedly but was filed before cut-off date i.e. 30.06.2022 as prescribed by CBDT Circular No. 6/2022. Accordingly, appeal allowed for statistical purpose. Facts- The assessee is a company, filed its return of income for the Assessment Year 2020–21 on 31.12.2020 u/s. 139(1) of the Income Tax Act, 1961 declaring total income of Rs.2,64,79,340/-, opting for concessional tax rate u/s. 115BAA of the Act...