1. The assessee is a Domestic Company. For the AY 2020-21, the assessee filed its return of income on 15-01-2021 declaring a total income of INR 20,71 ,870. The assessee had opted for concessional rate of income tax applicable to domestic companies under section 115BAA of the Income- tax Act, 1961 (“the Act”).
 

2. Section 115BAA of the Act states that Domestic Companies have the option to pay tax at a rate of 22% plus surcharge of 10% and cess of 4%. The Effective Tax rate being 25.17%. However, the entity has to let go certain deductions as specified under this section.
 

3. The Assessing Officer issued an Intimation under section 143(1) of the Act determining the total income of the assessee at INR 23,01 ,890. The Assessing Officer computed the tax liability of the assessee at 30% on account of failure to file Form 10-IC before due date of filing return of Income under section 139(1) of the Act, which is a pre-requisite for claiming concessional tax rate of 2% under section 115BAA of the act.
 

4. The assessee filed an appeal before the CIT(A). However, CIT(A) dismissed the appeal stating that there is a mandatory requirement of filing Form 10-IC before the due date of furnishing return of income, was not fulfilled by the assessee. Further, the assessee filed appeal with the ITAT.
 

5. It was submitted by the assessee that:
a) Due to intervening COVID period the assessee could not file Form 10-1C before the due date of filing return of income.
b) Form 10 IC was not getting submitted on the income tax website for reasons beyond assessee’s control.
c) Assessee has approached CBDT for condonation of delay in filing Form 10 IC in order to claim the beneficial rate of tax provided under section 115BAA of the Act.
 

6. The ITAT considered Rule 2 IAE of the Income Tax Rules, which states that the option of concessional tax rate under section 115BAA of the Act can be opted by domestic company in Form 10-1C in the manner prescribed under the said rules. ITAT noted that this requirement was not fulfilled by the assessee as Form 10-IC was not filed before the due date of filing return of income i.e.,15-2-2021.
 

7. Assessee in support of its plea mentioned that Form 10-1C can be also filed after due date of filing return of income, placing reliance on the decision of ITAT in the case of Suminter India Organics (P) Ltd. vs. Dy. CIT. In this case, ITAT held that the time permitted for filing Form IOIC must be treated as 31-3-2021 in accordance with certain relaxations, amendment of certain provisions, even when the time permitted for filing the income tax return was only up to 15-2-2021. However, the assessee submitted that in the present case Form 10-1C has not been filed by the assessee till date.
 

8. Hence, since the Form 10-1C was not filed by assessee, ITAT confirmed the order passed by CIT(A) and the appeal filed by assessee was dismissed.