Held that in the preceding year the assessee had exercised its option of paying taxes under the new regime for the first time and the option was denied to the assessee for the reason that Form No. 10-IE was not filed within the prescribed time, there was no requirement for the assessee to file a fresh Form No. 10-IE at all as per sub-s. (5) of s. 115BAC and therefore, the denial of exercise of this option in the relevant year for failure to file Form No. 10-IE, is not in accordance with law. (AY. 2023-24)