Tag Archives: Bengaluru

Waiver of Interest and Penalty Under Section 128A Denied for Excess ITC Claimed for December 2020

By | August 31, 2026
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Waiver of Interest and Penalty Under Section 128A Denied for Excess ITC Claimed for December 2020 Issue Whether an assessee is eligible for waiver of interest and penalty under Section 128A of the CGST/KGST Act when excess Input Tax Credit (ITC) was claimed in December 2020, but alleged to pertain to the period 2018-19. Facts… Read More »

Section 87A rebate is available against tax on short-term capital gains under section 111A.

By | July 16, 2026
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Section 87A rebate is available against tax on short-term capital gains under section 111A. Issue Whether a resident individual governed by the default tax regime under section 115BAC(1A) is entitled to a tax rebate under section 87A against the tax payable on short-term capital gains chargeable under section 111A, provided their total income does not… Read More »