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TMI Blog2025 (1) TMI 1520X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee has raised following grounds of appeal: "Ground No 1: Accepting return computing tax u/s 115BAA of the Income Tax Act, 1961: Opting of Section 115BAA in ITR6 by company and also mentioned in Tax Audit Report by the auditor is a complete expression of interest by company that it is opting to pay tax under Simplified Tax Regime. It was an era of COVID pandemic due to which there was communication gaps among team members. As per concept of ease of doing business, submission of number of forms should be minimised and forms should be comprehensive instead of multiple forms. In ITR 6, there was no column asking date of submission of Form 10-IC, which could reduce the possibility of such mistakes. The Ld CIT(A) not reli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owledgement No Of 10IC Is still being asked which will cause many companies opting for Section 115 BAA for the first time in A.Y 2021-2022 causing a lot of chances to Non-Filing Of Form 10-1C, which will ultimately causing a lot problems to revenue and companies. Non submission of 10-1C is a procedural mistake on part of company. without any loss to revenue. Income Tax Portal is not accepting submission of 10IC for A.Y 21-22, 50 companies cannot submit it as late filing. Many companies would have made such mistake. Ground No 2: CIT(A) not justified in accepting the calculation of tax at maximum rate of 30% plus surcharge plus cess: The Ld CIT(A) has not commented on this ground and simply dismissed the entire appeal in toto. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issed vide order dated 05.06.2024. Aggrieved with the order of the Ld. CIT(A), the assessee is in appeal before us. 6. It is seen that the appeal is delayed by five days. The assessee has filed an application for condonation of delay stating that due to medical emergency in the family, 5 days' delay has occurred in filing of the appeal. In view of the reason explained by the assessee, we hereby condone the delay in filing appeal. 7. Before us, Ld. AR has pointed out that the assessee made its intention clear regarding opting for the simplified tax regime by mentioning it in tax audit report as well as in the ITR for AY 2021-22. However, it was the period of Covid pandemic as such the requisite Form 10IC was missed to be filed. It was, fu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt in a Special Civil Application in the case of V. M. Procon Pvt. Ltd. v/s ADIT dated 23.08.2024 wherein under similar facts and circumstances, it has been held as under: "26. In view of the foregoing reasons, the impugned order dated 13.10.2023 passed under section 119(3)(b) of the Act and intimation under section 143(1) of the Act dated 13.11.2022 are hereby quashed and set aside and the mater is remanded back to the respondent No.2 to pass appropriate order condoning delay in filing Form 10-IC by the petitioner for exercising the option of lower rate of tax under section 115BAA of the Act as per the return of income filed by the petitioner in Form of Return of Income i.e. ITR-6 so as to enable the Assessing Officer or the Central Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant assessment year has been filed on or before the due date specified under section 139(1) of the Act; ii) The assessee company has opted for taxation u/s 115BAA of the Act in item (e) of "Filing Status" in "Part A-GEN" of the Form of Return of Income ITR-6; and iii) Form No. 10IC is filed electronically on or before 31.01.2024 or 3 months from the end of the month in which this Circular is issued, whichever is later." 11. Since the circular was issued on 23.10.2023 and at the time of filing of return for AY 2022-23 in 2022, there was no such provision for filing belated Form-10IC for AY 2021-22, the assessee thought it prudent to file the requisite form for AY 2022-23 on 22.09.2022. Subsequently, in view of the circular, the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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