AdvertisementMRF Limited Vs Central Board of Direct Taxes (Madras High Court) The Madras High Court considered a writ petition challenging the order dated 26.03.2024 rejecting the petitioner’s application under Section 119(2)(b) of the Income-tax Act, 1961 for condonation of delay in filing Form 10-IC, which was required for availing the concessional corporate tax rate under Section 115BAA of the Act. The petitioner, MRF Limited, engaged in the business of manufacturing tyres, filed its return of income for Assessment Year 2020-21 on 05.02.2021. While filing the return, the petitioner expressly opted...