No Need to Re-File Form 10-ID Annually for Sec 115BAB Tax Rate benefit: ITAT Kolkata

Indiano Chrome Private Limited Vs Dy. Director of Income Tax (ITAT Kolkata) Income Tax Appellate Tribunal (ITAT) Kolkata has allowed an appeal by Indiano Chrome Private Limited, directing the Assessing Officer (AO) to grant the company the benefit of Section 115BAB of the Income Tax Act, 1961, for Assessment Year (AY) 2023-24. This section provides for a concessional tax rate of 15% for eligible new domestic manufacturing companies. Indiano Chrome Private Limited had filed its income tax return for AY 2023-24, claiming taxation under Section 115BAB. However, in the intimation issued under Sect...