CPC Cannot Deny 25% Tax Rate Benefit Due to Missing ITR Column: ITAT Pune

Trans Engineers India Private Limited Vs DCIT (ITAT Pune) CPC Can’t Ignore Finance Act Benefit Just Because ITR Had No Column – Pune ITAT Allows 25% Corporate Tax Rate Claim! The Pune ITAT held that a domestic company cannot be denied the concessional 25% tax rate under the Finance Act, 2018 merely because the ITR form for AY 2018-19 did not contain a specific field to disclose turnover of FY 2015-16. The assessee-company had paid tax at 25% contending that its turnover for FY 2015-16 was below ₹50 crore, thereby satisfying the condition prescribed in the First Schedule to the Financ...