Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of AAR held that Rule 86B restrictions apply to the taxpayer, preventing use of electronic credit ledger beyond 99% of total tax liability. The cumulative income tax paid by the partnership firm and its partners cannot be aggregated to satisfy the exemption threshold. Since no individual partner paid more than Rs. 1 lakh in income tax during the last two financial years, the exemption under Rule 86B is not applicable. The taxpayer must discharge tax liability using electronic credit ledger up to 99% of the total tax liability for monthly turnover exceeding Rs. 50 lakh.
TaxTMI 
TaxTMI 
