INCOME TAX OFFICER, JHUNJHUNU vs. RUCHI GADIA, PILANI

ITA 318/JPR/2026Status: DisposedITAT Jaipur14 August 2026AY 2024-254 pages
AI SummaryDismissed

What were the facts?

The assessee claimed a rebate under Section 87A on short-term capital gains (STCG) under Section 111A, while opting for the Section 115BAC tax regime. The Assessing Officer disallowed this rebate via rectification, but the CIT(A) allowed it. The Revenue appealed this decision.

What did the Tribunal hold?

The Tribunal held that the rebate under Section 87A is allowable on STCG under Section 111A, even when opting for the Section 115BAC regime. This decision followed the precedent set by coordinate benches of the Tribunal.

What were the issues?

Whether rebate under Section 87A is permissible on income taxable under Section 111A when the assessee opts for the Section 115BAC regime.

Which sections of the Income-tax Act were involved?

Section 87A,Section 111A,Section 115BAC,Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘SMC’ BENCH, JAIPUR

Before: Shri T.R. Senthil Kumar & Shri Prakash

PER : PRAKASH, ACCOUNTANT MEMBER:-

1.

This appeal by the Revenue is directed against the order of the learned Additional/Joint Commissioner of Income Tax (Appeals)-12, Mumbai, [hereinafter referred to as “Addl./JCIT(A)”] dated 03.12.2025 for the Assessment Year 2024-25 arising out of the rectification order dated 05.02.2025 passed by the Assessing Officer at the Centralized Processing Centre (hereinafter referred to as “the AO at the CPC”) under section 154 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”),

2.

The grounds of appeal raised by the revenue before us in the memorandum of appeal in Form No. 36 read as under:

I.T.A No. 318/JPR/2026 Page No 2 Ruchi Gadia

1.

Whether on the facts and circums

The order continues below.

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