Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Customs Broker licence proceedings require accurate procedural facts before delay or natural-justice findings can justify setting aside regulatory act...
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Entitlement for relief u/s 89(1) - Can be equated to refund amount or not - Employee under suspension from 01.03.1996 to 16.04.2007 got ‘subsistence allowance’ for the said period. - The court clarified that the relief u/s 89 of the Income Tax Act is a form of rebate or adjustment in the computation of tax liability, not a direct refundable amount. It highlighted that the relief aims to adjust the tax liability when income is received in arrears or advance, impacting the tax rate applied. - The court found no error in the Income Tax Department's calculation of the refund amount. It noted that after accounting for the relief u/s 89, the correct refundable amount was determined and paid to the petitioner.
Entitlement for relief u/s 89(1) - Can be equated to refund amount or not - Employee under suspension from 01.03.1996 to 16.04.2007 got ‘subsistence allowance’ for the said period. - The court clarified that the relief u/s 89 of the Income Tax Act is a form of rebate or adjustment in the computation of tax liability, not a direct refundable amount. It highlighted that the relief aims to adjust the tax liability when income is received in arrears or advance, impacting the tax rate applied. - The court found no error in the Income Tax Department's calculation of the refund amount. It noted that after accounting for the relief u/s 89, the correct refundable amount was determined and paid to the petitioner.
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