ITAT Rejects MAT Addition as Company Validly Opted for Section 115BAA Concessional taxation

ITO Vs Western Developers Private Limited (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) Delhi dismissed the Revenue’s appeal against the order of the Addl./JCIT(Appeals) concerning the applicability of Sections 115BAA and 115JB of the Income Tax Act for AY 2024-25 in the case of . The assessee’s return had originally been processed under Section 143(1), where the CPC disallowed the concessional tax regime claimed under Section 115BAA and computed book profits of Rs.36.67 crore under Section 115JB, resulting in tax demand based on Minimum Alternate Tax (MAT). Before the appellate au...