Section 115BAC Benefits Allowed Despite Delay in Filing Form 10IE if Filed with Return

Annie Joseph Vs ITO (ITAT Cochin) The Income Tax Appellate Tribunal (ITAT) Cochin heard an appeal by Annie Joseph against the order of the Commissioner of Income Tax (Appeals)-1, Ludhiana, concerning the Assessment Year 2021-22. Joseph had filed her income tax return, declaring an income of Rs. 12,40,090 and opted for the new taxation regime under Section 115BAC of the Income Tax Act, 1961. The Centralized Processing Centre (CPC) processed the return under Section 143(1) but denied the benefit of the new tax regime because of a delay in filing Form 10IE, which is required to opt for this regim...