INCOMETAX OFFICER, WARD-6(2), JAIPUR, JAIPUR vs. MANISHA DEEPAK JAIN, JAIPUR

ITA 1049/JPR/2026Status: DisposedITAT Jaipur11 September 2026AY 2024-2512 pages
AI SummaryDismissed

What were the facts?

The assessee claimed rebate under Section 87A on short-term capital gains (STCG). The CPC restricted this rebate, leading to a demand. The CIT(A) allowed the rebate, and the Revenue appealed.

What did the Tribunal hold?

The Tribunal held that there is no express bar in Section 87A or Section 111A to deny rebate on STCG. The prospective amendment in Finance Bill 2025 reinforces that no such restriction was in force for the relevant assessment year.

What were the issues?

Whether rebate under Section 87A is admissible on income taxable under Section 111A (STCG), and whether the plain language of the statute or the Explanatory Memorandum should prevail.

Which sections of the Income-tax Act were involved?

Section 87A,Section 111A,Section 115BAC(1A)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JAIPUR BENCHES, “SMC” BENCH, JAIPUR

Hearing: 08.09.2026Pronounced: 11.09.2026

Per Annapurna Gupta, AM:- The present appeal has been filed by the Revenue against the order passed by the Office of the Commissioner of Income Tax, Appeal Addl./JCIT(A) Nagpur 02(hereinafter referred to as “Ld. CIT(A)”), dated 06.02.2026under Section 250of the Income Tax Act, 1961 (hereinafter referred to as “the Act”).

2.

The grounds raised read as under:-

P a g e | 2 Poonam Modi

1.1.

Whether on the facts and circumstances of the case and in law, the Ld. Addl CIT(A)-2, Nagpur is justified in allowing the rebate u/s 87A of the Act, on STCG, when rebate u/s 87A of the Act, 1961 is not available in respect of Income Tax payable on income chargeable to tax on special rates, which includes Short Term Capital Gain u/s 11A of the Act?

2.

W

The order continues below.

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