JIASH CREATIONS PVT. LTD.,MUMBAI vs. ITO, WARD 12(3)(1), MUMBAI

ITA 7253/MUM/2026Status: DisposedITAT Mumbai18 September 2026AY 2021-227 pages
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What were the facts?

The assessee, a domestic company, opted for concessional tax under section 115BAA by filing its return and Form 10-IC. However, the CPC processed the return at the normal tax rate of 30% due to a delay in furnishing Form 10-IC.

What did the Tribunal hold?

The Tribunal held that the delay in furnishing Form 10-IC was condoned by CBDT Circular No. 19/2023, as all conditions stipulated therein were fulfilled. Therefore, the assessee was entitled to the concessional tax rate under section 115BAA.

What were the issues?

Whether the delay in furnishing Form 10-IC for opting under section 115BAA can be condoned by CBDT Circular, and if so, whether the assessee is entitled to the concessional tax rate.

Which sections of the Income-tax Act were involved?

Section 115BAA,Section 139(1),Section 154,Section 119(2)(b)

AI-generated summary — verify with the full judgment below

Before: SHRI AMIT SHUKLA & SHRI ARUN KHODPIA

For Appellant: Shri Manish Sheth
For Respondent: Shri Ravi Teja (Sr. DR)
Hearing: 18.09.2026Pronounced: 18.09.2026

PER AMIT SHUKLA (J.M):

The aforesaid appeal has been filed by the assessee against the order dated 13.04.2026 passed by the learned Additional/Joint Commissioner of Income-tax (Appeals), Thiruvananthapuram, arising out of the order passed by the Centralised Processing Centre under section 154 of the Income- tax Act, 1961, for the Assessment Year 2021–22. The assessee has principally challenged the denial of the concessional rate of tax under section 115BAA and the consequential computation of P a g e | 2 A.Y. 2021-22 Jiash Creations Pvt. Ltd. its tax liabi

The order continues below.

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