Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Rebate under section 87A was held available to a resident individual opting for the new tax regime where total income included long-term capital gains taxable under section 112, because the relevant year's text of section 87A referred to total income without expressly excluding such gains. The Tribunal noted that Parliament had specifically denied rebate for section 112A income, but no comparable bar existed for section 112, so the restriction could not be implied. It also treated the Finance Act, 2025 amendment restricting rebate against special rate income as prospective and substantive, not retrospective. The order denying rebate was set aside and the consequential demand deleted.
Rebate under section 87A was held available to a resident individual opting for the new tax regime where total income included long-term capital gains taxable under section 112, because the relevant year's text of section 87A referred to total income without expressly excluding such gains. The Tribunal noted that Parliament had specifically denied rebate for section 112A income, but no comparable bar existed for section 112, so the restriction could not be implied. It also treated the Finance Act, 2025 amendment restricting rebate against special rate income as prospective and substantive, not retrospective. The order denying rebate was set aside and the consequential demand deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
