Section 115BAE(1) — the law in short
What the courts have decided on section 115BAE(1), in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Statutory position — s.115BAE: the 15 per cent regime for new manufacturing co-operative societies, and the absence of case law
CBDT Circulars & InstructionsCuts both waysValidity unconfirmed
A new manufacturing co-operative society wants the 15 per cent rate. What does s.115BAE require, and is there any decided case on it?
Section 115BAE, inserted by the Finance Act 2023 with effect from 1 April 2024, taxes a resident co-operative society at 15 per cent from AY 2024-25 if it was set up and registered on or after 1 April 2023 and commenced manufacturing or production of an article or thing on or before 31 March 2024, and if the other conditions in sub-section (2) are met. I located no judicial decision on the section — no High Court, Tribunal or Supreme Court authority on s.115BAE was found, and this entry states the statute, not case law.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.