Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
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Section 87A does not expressly bar rebate against tax payable on short-term capital gains from listed equity shares taxed at the special rate under section 111A. Applying a plain reading of both provisions and following the cited Tribunal precedent, rebate under section 87A is available in respect of such tax liability. Denial of the claimed rebate was therefore unsustainable, and the Assessing Officers were directed to grant it.
Section 87A does not expressly bar rebate against tax payable on short-term capital gains from listed equity shares taxed at the special rate under section 111A. Applying a plain reading of both provisions and following the cited Tribunal precedent, rebate under section 87A is available in respect of such tax liability. Denial of the claimed rebate was therefore unsustainable, and the Assessing Officers were directed to grant it.
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