Tax credit set-off framework expanded through substitution of clause governing eligible credits under the Income-tax Act. Section 425 of the Income-tax Act is amended in sub-section (5) by substituting clause (f) to expand the reference to tax credits eligible for set-off. The revised clause brings within its scope any tax credit allowed to be set off under sections 206(2)(e) to (h) and 206(3) and (4), thereby aligning the set-off provision with the specified tax credit mechanisms. The amendment operates as a targeted textual substitution within the existing set-off framework and clarifies the category of tax credits covered for adjustment under the provision.
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Provisions expressly mentioned in the judgment/order text.
Tax credit set-off framework expanded through substitution of clause governing eligible credits under the Income-tax Act.
Section 425 of the Income-tax Act is amended in sub-section (5) by substituting clause (f) to expand the reference to tax credits eligible for set-off. The revised clause brings within its scope any tax credit allowed to be set off under sections 206(2)(e) to (h) and 206(3) and (4), thereby aligning the set-off provision with the specified tax credit mechanisms. The amendment operates as a targeted textual substitution within the existing set-off framework and clarifies the category of tax credits covered for adjustment under the provision.
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