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2011 (10) TMI 489 - HC - Income TaxRebate u/s 88E from the tax computed u/s 115JB - assessee engaged in the business of purchase and sale of shares – STT paid – Held that:- If the transaction on which STT is paid is included in the total income of the assessee where the total income is assessed either under the provisions of the Act or under Section 115JB when tax chargeable on such income is arrived at & it is from that tax which is chargeable, the tax paid u/s 88E is given deduction, by way of rebate, u/s 87. This is the legislative intent of giving deduction of the tax already paid - Decided against the Revenue.
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