https://www.taxtmi.com/caselaws?id=238768 The High Court of Calcutta, concurring with the Karnataka High Court's interpretation, held that the rebate under Section 88E for securities transaction tax is admissible even when income is assessed under the minimum alternative tax regime of Section 115 JB of the Income Tax Act. The court affirmed that the tax paid under Section 88E is deductible from the tax chargeable, aligning with legislative intent to provide a deduction for tax already paid. Both appeals were disposed of accordingly, with directions for the issuance of certified copies of the order upon application by the parties. en-us Mon, 25 Mar 2013 00:00:00 +0530 Thu, 31 Oct 2013 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238768 The High Court of Calcutta, concurring with the Karnataka High Court's interpretation, held that the rebate under Section 88E for securities transaction tax is admissible even when income is assessed under the minimum alternative tax regime of Section 115 JB of the Income Tax Act. The court affirmed that the tax paid under Section 88E is deductible from the tax chargeable, aligning with legislative intent to provide a deduction for tax already paid. Both appeals were disposed of accordingly, with directions for the issuance of certified copies of the order upon application by the parties. Case-Laws Income Tax Mon, 25 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238768