ITAT Ensures Correct Tax Rate for Companies Claiming u/s 115BA Benefit

SAP Parts Private Limited Vs ITO (ITAT Pune) 115BA Form Not Filed – CPC Taxed @30%; Tribunal Allows Fresh Examination-  If FY 2018-19 Turnover < ₹400 Cr, Apply 25% Rate: ITAT Remands Assessee, a private limited company, appealed against the rectification order u/s 154 dated 11.04.2023 whereby CPC denied concessional tax rate of 25% & applied 30% on the ground that Form prescribed for claiming benefit u/s 115BA had not been furnished. Assessee confined its argument to Ground No.1 before ITAT, giving up Ground No.2 as “not pressed”. Assessee submitted that its turnover for FY...