Western Developers Private Limited Concessional Taxation Overrdies MAT

The dispute concerned whether Western Developers Private Limited could validly continue to avail concessional corporate taxation under Section 115BAA despite allegations by the Revenue that Form 10-IC had not been filed within the prescribed due date under Section 139(1). 

Consequent to denial of Section 115BAA benefits during CPC processing under Section 143(1), the Revenue sought to invoke Section 115JB and computed book profits exceeding INR 36.67 crores for MAT purposes. 

The First Appellate Authority reversed the adjustment holding that once Section 115BAA was opted for, Section 115JB itself ceased to apply by virtue of Section 115JB(5A). 

The Tribunal affirmed this view and additionally relied upon the principle of consistency since the Revenue had accepted the assessee’s Section 115BAA regime in earlier assessment years. The ruling reinforces the statutory exclusion of MAT once the concessional regime under Section 115BAA is validly exercised.