{"id":64769,"date":"2026-10-05T16:06:25","date_gmt":"2026-10-05T10:36:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/gem-nuts-produce-exports-co-p-ltd-v-pcit-2025-178-taxmann-com-256-bomhc\/"},"modified":"2026-10-05T16:06:25","modified_gmt":"2026-10-05T10:36:25","slug":"gem-nuts-produce-exports-co-p-ltd-v-pcit-2025-178-taxmann-com-256-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/gem-nuts-produce-exports-co-p-ltd-v-pcit-2025-178-taxmann-com-256-bomhc\/","title":{"rendered":"Gem Nuts &#038; Produce Exports Co. (P.) Ltd. v. PCIT [2025] 178 taxmann.com 256 (Bom)(HC)"},"content":{"rendered":"<p>Where assessee-company opted for taxation under section 115BAA and filed its return and Form 10-IC belatedly, since books of account had been finalised before the due date, return and Form 10-IC were filed simultaneously and delay of 15 days was attributable to oversight of Chartered Accountant, assessee had demonstrated bona fides and there was no reason to disbelieve its explanation; further, filing return within due date under section 139(1) was not a condition precedent for claiming benefit under section 115BAA; accordingly, order rejecting application for condonation was set aside and delay in filing Form 10-IC was condoned.\u00a0 (AY. 2021-22)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115BAA:  Tax on income of certain domestic companies-Concessional tax regime-Delay of 15 days-Condonation of delay in filing Form 10-IC-Filing return within the due date under section 139(1) was not a condition precedent for claiming benefit under section 115BAA-Order rejecting application for condonation was set aside, and delay in filing Form 10-IC was condoned. [S. 119, 139(1)., Art. 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64769","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gQF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=64769"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64769\/revisions"}],"predecessor-version":[{"id":64770,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64769\/revisions\/64770"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}