Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
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ITAT allowed the assessee's appeal, holding that the restriction under s.112A(6) on claiming rebate u/s 87A applies only to Long-Term Equity Capital Gains covered by s.112A(1)(ii), and not to Long-Term Debt Capital Gains, which are governed by s.112. As the assessee's tax on debt LTCG and on other normal income each exceeded the rebate threshold of Rs. 25,000, the assessee was held entitled to the full rebate of Rs. 25,000 u/s 87A. CPC was directed to recompute the tax liability accordingly in line with this interpretation.
ITAT allowed the assessee's appeal, holding that the restriction under s.112A(6) on claiming rebate u/s 87A applies only to Long-Term Equity Capital Gains covered by s.112A(1)(ii), and not to Long-Term Debt Capital Gains, which are governed by s.112. As the assessee's tax on debt LTCG and on other normal income each exceeded the rebate threshold of Rs. 25,000, the assessee was held entitled to the full rebate of Rs. 25,000 u/s 87A. CPC was directed to recompute the tax liability accordingly in line with this interpretation.
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