{"id":65439,"date":"2026-11-05T13:42:53","date_gmt":"2026-11-05T08:12:53","guid":{"rendered":"https:\/\/itatonline.org\/digest\/sarla-holdings-p-ltd-v-pcit-2025-179-taxmann-com-83-2026-487-itr-225-delhihc-editorial-slp-of-assessee-dismissed-sarla-holdings-p-ltd-v-pcit-2025-307-taxman-446-2026-487-itr-23\/"},"modified":"2026-11-05T13:42:53","modified_gmt":"2026-11-05T08:12:53","slug":"sarla-holdings-p-ltd-v-pcit-2025-179-taxmann-com-83-2026-487-itr-225-delhihc-editorial-slp-of-assessee-dismissed-sarla-holdings-p-ltd-v-pcit-2025-307-taxman-446-2026-487-itr-23","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/sarla-holdings-p-ltd-v-pcit-2025-179-taxmann-com-83-2026-487-itr-225-delhihc-editorial-slp-of-assessee-dismissed-sarla-holdings-p-ltd-v-pcit-2025-307-taxman-446-2026-487-itr-23\/","title":{"rendered":"Sarla Holdings (P.) Ltd v.PCIT ([2025] 179 taxmann.com 83 \/[2026] 487 ITR 225 (Delhi)(HC) Editorial : SLP of assessee dismissed, Sarla Holdings (P.) Ltd v.PCIT (2025] 307 Taxman 446 \/(2026) 487 ITR 235 (SC)"},"content":{"rendered":"<p><strong>\u00a0<\/strong>Assessee company filed its return of income for the relevant assessment year on 13-2-2021. In its return, assessee had not opted for taxation under section 115BAA. Assessee contended that there was some confusion regarding manner to claim benefit of lower taxation under section 115BAA and it failed to select option for same. It further stated that soon thereafter, its finance officer recovered from COVID-19 and verified return and he became aware that assessee had not opted for the option under section 115BAA and, therefore, filed a revised return on 26-3-2021 and also surrendered depreciation on goodwill. However, the Assessing Officer passed an assessment order under section 115JB. On writ, the Court held that sub-section (5) of section 115BAA clearly provides that section 115BAA would not be applicable unless (a) an option is exercised by the assessee in the prescribed manner; and (b) before the due date specified under section 139(1) for furnishing the return of income.Since assessee had not opted for lower taxation under section 115BAA in its return and its computation of depreciation was not strictly in accordance with the terms of sub-section (2) of section 115BAA, it could not be allowed to revise its return and file Form 10-IC after the due date for filing the return under section 139(1) so as to avail the benefit of lower taxation under section 115BAA.(AY. 2020-21)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115BAA:  Tax on income of certain domestic companies&#8211;Concessional tax regime-Assessee company had not exercised its option to avail benefit of section 115BAA before the due date specified under section 139(1) in its return; it could not be allowed to revise its return and file Form 10-IC after the due date for filing return under section 139(1) so as to avail benefit of lower taxation under section 115BAA.[S.115BAA(5), 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-65439","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-h1t","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65439","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=65439"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65439\/revisions"}],"predecessor-version":[{"id":65440,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65439\/revisions\/65440"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}