INCOME TAX OFFICER, NCRB, STATUE CIRCLE, JAIPUR vs. AKSHAT JAIN, JAIPUR

ITA 1131/JPR/2026Status: DisposedITAT Jaipur11 September 2026AY 2024-257 pages
AI SummaryDismissed

What were the facts?

The assessee claimed a rebate under Section 87A on short-term capital gains (STCG) taxable under Section 111A, while opting for the new tax regime under Section 115BAC. The CPC denied this rebate, but the CIT(A) allowed it, leading to the Revenue's appeal.

What did the Tribunal hold?

The Tribunal held that the assessee is eligible to claim the rebate under Section 87A on STCG, even when opting for the new tax regime, as long as the total income is within the prescribed limit. The denial of the rebate by the CPC was considered incorrect.

What were the issues?

Whether rebate under Section 87A is allowable on short-term capital gains taxable under Section 111A when the assessee opts for the new tax regime under Section 115BAC.

Which sections of the Income-tax Act were involved?

Section 87A,Section 111A,Section 115BAC

AI-generated summary — verify with the full judgment below

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

Hearing: 10.09.2026Pronounced: 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) Mumbai 09 (hereinafter referred to as “Ld. CIT(A)”),

P a g e | 2 Akshat Jain dated 05.02.2026 under Section 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”).

2.

The grounds raised read as under:-

1.

Whether on the facts and in the circumstances of the case and in law the ADDL/JCIT(A)- 9Mumbai is justified in allowing the rebate u/s 87A of the Income-tax Act, 1961 on STCG when rebate u/s 87A of the Act is not available in respect of income tax payable on income chargeable to tax on specia

The order continues below.

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