https://www.taxtmi.com/caselaws?id=70041 The Tribunal held that the assessees were not entitled to the rebate under Section 86(v) of the Income Tax Act as they were members of a small Association of Persons (AOP) and not the main AOP, which had paid tax. The initial rebate granted was deemed incorrect as the small AOP did not pay tax. The judgment emphasizes the necessity for assessees to meet specific conditions outlined in Section 86(v) to claim tax benefits, highlighting the importance of direct association with the AOP to qualify for rebates and avoid erroneous grants of tax benefits. en-us Mon, 12 Jun 1995 00:00:00 +0530 Wed, 13 Apr 2011 16:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70041 The Tribunal held that the assessees were not entitled to the rebate under Section 86(v) of the Income Tax Act as they were members of a small Association of Persons (AOP) and not the main AOP, which had paid tax. The initial rebate granted was deemed incorrect as the small AOP did not pay tax. The judgment emphasizes the necessity for assessees to meet specific conditions outlined in Section 86(v) to claim tax benefits, highlighting the importance of direct association with the AOP to qualify for rebates and avoid erroneous grants of tax benefits. Case-Laws Income Tax Mon, 12 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70041