Rule 21AE — the law in short
What the courts have decided on section Rule 21AE, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
-
Electronfab Engineering Pvt Ltd v ITO
ITATHelps taxpayerNo later treatment found
You forgot to opt for s.115BAA in the original return and then filed Form 10-IC and a corrected return in answer to a s.139(9) notice. Does the option hold?
The Tribunal held that it does. Form 10-IC filed on 2 December 2024 and the corrected return filed on 6 December 2024 in answer to the defect notice sufficiently demonstrated the intention to opt for the concessional regime, and the procedural lapse in not exercising the option in the original return could not defeat the substantive claim where the statutory conditions were otherwise met.
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.
