https://www.taxtmi.com/caselaws?id=71703 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the assessee's appeal regarding the rebate under section 88 of the Income Tax Act, 1961. The Tribunal ruled that investments for rebate must be made from the assessee's chargeable income, as mandated by section 88(2), and rejected the claim as the investments were made using borrowed funds. The Tribunal emphasized the strict interpretation of statutory provisions and the avoidance of rendering them redundant, ultimately concluding that the rebate was not applicable in this case. en-us Mon, 23 Apr 2001 00:00:00 +0530 Tue, 26 Apr 2011 16:54:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71703 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the assessee's appeal regarding the rebate under section 88 of the Income Tax Act, 1961. The Tribunal ruled that investments for rebate must be made from the assessee's chargeable income, as mandated by section 88(2), and rejected the claim as the investments were made using borrowed funds. The Tribunal emphasized the strict interpretation of statutory provisions and the avoidance of rendering them redundant, ultimately concluding that the rebate was not applicable in this case. Case-Laws Income Tax Mon, 23 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71703