Ferranza Electric Vehicle Pvt. Ltd Vs. DCIT

Parties Involved

Facts Summary

The assessee filed its return of income for AY 2023-24 on 15.10.2023, which was deemed invalid under section 139(9) of the Income Tax Act, 1961. The assessee subsequently filed a revised return under section 139(5) on 18.12.2023, opting for Section 115BAB. The CPC Bengaluru denied the option for taxation under Section 115BAB, leading the assessee to file a rectification application, which was rejected. The assessee then appealed before the Ld. CIT(A), who dismissed the appeal. The assessee further appealed before the Income Tax Appellate Tribunal, raising several grounds of appeal.…

Legal Issues

• 1. Denial of concessional tax rate under Section 115BAB

Judgment Outcome

Decided in favour of Assessee.

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