Concessional Section 115BAA Tax Benefit allowable Despite Delay in Filing Form 10-IC

Vinmar India Private Limited Vs ITO (ITAT Mumbai) The case before the Income Tax Appellate Tribunal Mumbai concerned an appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals), which upheld the denial of concessional tax rate under Section 115BAA of the Income Tax Act for Assessment Year 2020–21. The assessee had filed its return of income on 06.12.2020, within the extended due date, and had exercised the option for taxation under Section 115BAA by selecting the relevant option in the ITR-6 form. The assessee also asserted that it fulfilled all conditions r...