INCOME TAX OFFICER, WARD-1, BEAWAER, COURT COMPUS BEAWAR vs. RAJSHREE KOTHARI, BEAWAR

ITA 399/JPR/2026Status: DisposedITAT Jaipur20 August 2026AY 2024-259 pages
AI SummaryDismissed

What were the facts?

The Revenue appealed against the CIT(A)'s order allowing rebate under Section 87A to the assessee on Short Term Capital Gains (STCG). The CPC had initially denied this rebate, considering STCG as income chargeable at special rates not eligible for rebate.

What did the Tribunal hold?

The Tribunal held that Section 87A provides rebate on the entire tax liability computed on total income, without distinguishing between normal and special rate incomes like STCG. The Explanatory Memorandum to the Finance Bill 2025 was not considered binding for the relevant assessment year.

What were the issues?

Whether rebate under Section 87A is allowable on Short Term Capital Gains taxable at special rates under Section 111A, especially 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,Section 250

AI-generated summary — verify with the full judgment below

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

For Appellant: Ms. Aarti Rawat, Addl. CIT
For Respondent: CA (thru
Hearing: 19.08.2026Pronounced: 20.08.2026

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), Gwalior(hereinafter referred to as “Ld. CIT(A)”), dated 15.12.2025 under Section 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”).

2.

The Revenuehas raised the following grounds of appeal:-

P a g e | 2 Rajshree Kothari

1.

Whether on the facts & the circumstances of the case and in law the Ld. CIT(A) has erred in allowing rebate u/s 87A of the Act to the assessee on Short Term Capital Gains, without appreciating that income chargeable to tax at special rates is not eligible for rebate u/s 87A, as clarified by CBDT Circular No. 13/2025 dated 19.09.2025 and the capital gai

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 87A

All 81 judgments and leading authorities on Section 87A →

Recent GST High Court judgments

Search GST case law →