Shivshambho Construction Private Limited Vs ITO (ITAT Kolkata)
ITAT Kolkata Restores 115BAA Concessional Tax Claim – Delay in Filing Form 10-IC Held Procedural
Kolkota Tribunal condoned delay of 4 days & restored matter to AO, holding that delay in filing Form 10-IC for opting concessional tax regime u/s 115BAA is procedural & assessee deserves fresh consideration.
Assessee, a private limited company, filed return declaring income of ₹8.71 crore, opting for concessional tax regime u/s 115BAA. CPC, Bangalore rejected claim u/s 143(1), disallowing 115BAA option on ground of belated filing of Form 10-IC. CIT(A) upheld CPC action, holding that condonation was not within his jurisdiction & assessee should approach appropriate authority.
Assessee appealed before ITAT, contending that Form 10-IC was filed on 18.12.2023 along with ITR, showing consistent intention to opt 115BAA, & denial of benefit merely for delay violated principles of natural justice.
Tribunal noted that Calcutta High Court in PCIT vs. Fastner Commodeal Pvt. Ltd. (ITAT/267/2024, dated 10.01.2025) had already held that filing Form 10-IC is a procedural requirement. If return itself clearly reflects assessee’s option for 115BAA, then delay in uploading form should not defeat substantive claim. COVID-related disruptions & portal difficulties were also considered valid reasons for such procedural lapses. Tribunal found assessee’s intention bona fide & consistent.
