If a paper-based application as referred to in Article 144 (Application for Approval to File a Blue Return) has been submitted but a disposition either approving or denying the application is not reached by December 31 of the year in which the applicant seeks the approval referred to in Article 143 (Blue Returns) for income taxes in and after the current year (or by February 15 of the next year, if the applicant commences business as prescribed in that Article on or after November 1 of the relevant year), approval is deemed to be given on that day.