Summary
- The Income Tax Appellate Tribunal, Jaipur has dismissed the Revenue's appeal regarding the rebate under Section 87A on short-term capital gains (STCG) taxable under Section 111A for Assessment Year 2024-25.
- The assessee, Dolly Khandelwal, had claimed a Rs. 25,000 rebate after opting for the tax regime under Section 115BAC, which was initially disallowed by the Assessing Officer.
- The Tribunal found that previous decisions from both its own coordinate Bench and the Ahmedabad Bench supported allowing the rebate, with no contrary rulings presented by the Revenue.
- This ruling reinforces taxpayer rights to claim rebates on STCG under specific conditions, potentially influencing future tax assessments in similar cases
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