The assessee failed to file Form No. 10-IC electronically, a mandatory condition stipulated under section 115BAA which led to imposition of higher rate of tax. The assessee filed writ before the High Court. High Court directed to move an appropriate application before Central Board of Direct Taxes (CBDT) for granting leave to file Form No. 10-IC, pursuant to powers conferred on it by section 119(2)(b) of the Act. (AY. 2021-22)
Jasper Associates (P.) Ltd. v.CPC(2023) 335 CTR 829 / 155 taxmann.com 333 (Delhi)(HC)
S. 115BAA : Tax on income of certain domestic companies-Determination of tax in certain cases-Failure to file Form No.10IC electronically-Higher rate of tax-Directed to move an appropriate application before CBDT for granting leave to file Form No. 10IC. [S. 119(2)(b), Art. 226]