https://www.taxtmi.com/caselaws?id=271601 Under the Kar Vivad Samadhan Scheme, 1998, disputed income for a capital gains case had to be computed by applying the statutory capital gains rate to the unpaid tax, and the payable amount then calculated at 35% of that disputed income. Administrative instructions from the Ministry of Finance could not override or amend the statutory scheme, because subordinate clarification cannot change the benefit created by legislation. The marginal-rate method was therefore rejected as inconsistent with the Finance Act, 1998, and the disputed income and resulting liability had to be recomputed in accordance with the statutory formula. en-us Mon, 01 Feb 2016 00:00:00 +0530 Tue, 03 May 2016 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271601 Under the Kar Vivad Samadhan Scheme, 1998, disputed income for a capital gains case had to be computed by applying the statutory capital gains rate to the unpaid tax, and the payable amount then calculated at 35% of that disputed income. Administrative instructions from the Ministry of Finance could not override or amend the statutory scheme, because subordinate clarification cannot change the benefit created by legislation. The marginal-rate method was therefore rejected as inconsistent with the Finance Act, 1998, and the disputed income and resulting liability had to be recomputed in accordance with the statutory formula. Case-Laws Income Tax Mon, 01 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271601