Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
