ITAT Hyderabad: Section 115BAA Benefit Cannot Be Denied on Technicalities; MAT Not Applicable Once Option Validly Exercised

Wingtech Mobile Communication (India) Private Limited Vs DCIT (ITAT Hyderabad) ITAT Hyderabad: Section 115BAA Benefit Cannot Be Denied on Technicalities; MAT Not Applicable Once Option Validly Exercised In this case, the assessee company opted for the concessional tax regime under section 115BAA by filing Form 10-IC on 30.11.2022. However, CPC/AO treated the form as belated by considering an earlier due date (07.11.2022) based on the assessee’s incorrect selection in the ITR that transfer pricing provisions were not applicable, and accordingly computed tax under MAT provisions u/s 115JB. The...