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Form 10-IC Filing Delay is Procedural – ITAT Allows Concessional 22% Tax
Case Law Details
- Case Name
- KN Support Services Pvt. Ltd Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Delhi
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KN Support Services Pvt. Ltd Vs DCIT (ITAT Delhi)
Assessee, engaged in software development & IT consulting, opted for concessional tax regime u/s 115BAA (22%). It e-filed Form 10-IC on 19.12.2022 & return on 23.12.2022, whereas the extended due date u/s 139(1) was 07.11.2022. CPC processed return u/s 143(1) applying normal tax rate of 30% & MAT u/s 115JB, holding that delayed Form 10-IC invalidated option for concessional regime. CIT(A) upheld.
Before ITAT, Assessee explained delay arose due to search on its parent entity by DGGI in Nov 2021, delaying finalization...
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