Section 88E do not put any restriction for allowing rebate u/s.88E till income is positive

 In the case of Ashika Stock Broking Ltd. (supra) it was held that once there was a net surplus from share dealing of market segment and future and option segments together and if there was a net profit therefrom the assessee was entitled for rebate of entire STT. In the case under consideration surplus from share dealing from market segment/ future and option segment is not there, but there is net income after setting off of losses. We are of the opinion that once there was overall profit for the AY under considerati

Please become a Premium member. If you are already a Premium member, login here to access the full content.