Rahee Infratech Limited Vs. DCIT, CC-4(2), Kolkata

Parties Involved

Facts Summary

The assessee, Rahee Infratech Limited, is a manufacturing concern and a contractor of Indian Railway. It filed an income tax return for the assessment year 2022-23 declaring a total income of Rs. 31,50,65,330/- and claimed taxation at 22% under Section 115BAA of the Act. However, the return was processed by the Assessing Officer determining the total income at the same amount but charging tax at the normal rate of 30% instead of 22% as claimed by the assessee. The assessee filed an appeal before the Commissioner of Income Tax (Appeal)- Addl/JCIT(A)-1, Ludhiana, which was dismissed on the grounds that the assessee failed to file Form 10IC within the extended period of time, i.e., 07.11.2022. Aggrieved by this order, the assessee preferred the present appeal before the ITAT. The counsel for the assessee argued that the delay in filing Form 10IC was due to the illness of the accountant and was unintentional. The counsel also relied on a judgment of the Hon’ble Calcutta High Court in a similar case.…

Legal Issues

• 1. Whether the assessee is entitled to claim taxation under Section 115BAA of the Act despite the delay in filing Form 10IC.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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