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Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
For AY 2024-25, the notes state that section 87A contained no express exclusion for tax on short-term capital gains taxable under section 111A where a resident individual is governed by section 115BAC(1A). The express statutory restriction applicable to long-term capital gains under section 112A could not be extended to short-term capital gains. The Finance Act 2025 amendment limiting the rebate to tax computed under section 115BAC(1A), effective from AY 2026-27, is described as prospective; therefore, it does not restrict the rebate under the earlier law. The stated effect is that eligible taxpayers may claim section 87A rebate against such short-term capital gains tax for AY 2024-25.
For AY 2024-25, the notes state that section 87A contained no express exclusion for tax on short-term capital gains taxable under section 111A where a resident individual is governed by section 115BAC(1A). The express statutory restriction applicable to long-term capital gains under section 112A could not be extended to short-term capital gains. The Finance Act 2025 amendment limiting the rebate to tax computed under section 115BAC(1A), effective from AY 2026-27, is described as prospective; therefore, it does not restrict the rebate under the earlier law. The stated effect is that eligible taxpayers may claim section 87A rebate against such short-term capital gains tax for AY 2024-25.
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