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2022 (7) TMI 1219 - AT - Income TaxLevy of income tax - assessee has opted for the taxation under the concessional scheme of taxation under section 115BAA - manner in which the provisions of Taxation and Other Laws (Relaxations and Amendments of Certain Provisions) Act 2020, are required to be interpreted and whether dehors the statutory linkage between the time permissible for furnishing of return under section 139(1) and filing the intimation of exercising the option for the concessional regime of taxation under section 115BAA(5) - HELD THAT:- When the economic activities worldwide were seriously disrupted on account of the Covid pandemic, if more relaxations were required to be given, in the wisdom of the legislature, in respect of filing documents other than income tax returns, such statutory relaxations could not be declined on the ground that this differentiation is alien to the scheme of the Income Tax Act, 1961. The general scheme of timeframe prescribed under the Income Tax Act 1961 has to make way for the specific relaxation provisions under the Taxation and Other Laws (Relaxations and Amendments of Certain Provisions) Act 2020. The time permitted for filing of form 10-IC, by virtue of section 3(1)(b) of TOLA, must be treated as 31st March 2021, even as the time permitted for filing of the income tax return under section, in the light of third proviso to Section 3(1) and read with subsequent notification, was only upto 15th February 2021. The plea of the assessee thus is indeed correct. The short question before us relates to the interpretation of provisions with respect to relaxations to mitigate the hardships caused during the Covid pandemic period, by the Taxation and Other Laws (Relaxations and Amendments of Certain Provisions) Act 2020, and it is our considered view that such relaxation provisions must be interpreted in a liberal and non-pedantic manner, and so as to give full effect to the relaxations permitted by the legislature. Viewed thus also, the proposition canvassed by the assessee is a reasonably possible view of the matter, and it merits acceptance. In view of all these discussions, and bearing in mind the entirety of the case, we uphold the plea of the assessee, and direct the Assessing Officer to accept the exercise of the option by the assessee for the concessional taxation regime under section 115 BAA. The assessee must therefore get the relief, as admissible, on the application of the scheme of taxation under section 115BAA.
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