ACIT v. Lahari Holiday Homes (P.) Ltd. (2025) 238 TTJ 708 / 179 taxmann.com 217 (Hyd.)(Trib.)

S. 115BAA: Tax on income of certain domestic companies-Determination of tax in certain cases-Concessional tax regime-Revised return-Option under section 115BAA can validly be exercised through a revised return filed within the due date. [S. 139(5)]

 

The assessee exercised the option under section 115BAA for the first time through a revised return filed within the prescribed time. The Tribunal held that a revised return substitutes for the original return and validly exercises the option. It further held that business losses and capital losses not covered by section 115BAA(2) continue to be eligible for set-off. (AY. 2021-22).

Leave a Reply

Your email address will not be published. Required fields are marked *

*