Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The HC directed the respondents to modify the tax filing system for AY 2024-25 to allow assessees to claim the rebate u/s 87A of the Income Tax Act, 1961. The statutory right to claim rebate cannot be overridden by procedural changes like software utility. The rebate is linked to total income and tax liability, with the onus on tax authorities to ensure proper implementation if statutory criteria are met. Procedural impediments depriving statutory benefits warrant judicial intervention. As interim relief, the CBDT was directed to extend the due date for e-filing returns till 15.01.2025 for assessees required to file by 31.12.2024, ensuring opportunity to exercise statutory rights.
The HC directed the respondents to modify the tax filing system for AY 2024-25 to allow assessees to claim the rebate u/s 87A of the Income Tax Act, 1961. The statutory right to claim rebate cannot be overridden by procedural changes like software utility. The rebate is linked to total income and tax liability, with the onus on tax authorities to ensure proper implementation if statutory criteria are met. Procedural impediments depriving statutory benefits warrant judicial intervention. As interim relief, the CBDT was directed to extend the due date for e-filing returns till 15.01.2025 for assessees required to file by 31.12.2024, ensuring opportunity to exercise statutory rights.
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