Lower Tax Rate Cannot Be Denied for Delay in Filing Form 10IC: ITAT Ahmedabad

Aprameya Engineering Limited Vs ITO (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT) Ahmedabad delivered a ruling in the case of Aprameya Engineering Limited vs. Income Tax Officer, addressing the rejection of a lower tax rate under Section 115BAA due to the delayed filing of Form 10-IC. The dispute arose when the Central Processing Centre (CPC) processed the company’s return for Assessment Year 2022-23 and charged tax at the normal rate of 30% instead of the concessional 22%, citing late submission of Form 10-IC. The assessee appealed, arguing that the form’s filing was procedural ra...