Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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Resident individual opting for the new tax regime was entitled to rebate despite part of the tax liability arising from short-term capital gains taxed at the special rate. The Tribunal followed its consistent view that, where total income is below the statutory rebate threshold, rebate relief is available even against tax on short-term capital gains under section 111A. In the absence of any contrary authority or distinguishing facts, the denial of rebate was held to be contrary to law and was reversed.
Resident individual opting for the new tax regime was entitled to rebate despite part of the tax liability arising from short-term capital gains taxed at the special rate. The Tribunal followed its consistent view that, where total income is below the statutory rebate threshold, rebate relief is available even against tax on short-term capital gains under section 111A. In the absence of any contrary authority or distinguishing facts, the denial of rebate was held to be contrary to law and was reversed.
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