ITO, JAIPUR vs. DOLLY KHANDELWAL, JAIPUR

ITA 319/JPR/2026Status: DisposedITAT Jaipur12 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 AO rectified the order to disallow this rebate, but the CIT(A) allowed it.

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 previous rulings by coordinate benches and the Ahmedabad bench.

What were the issues?

Whether rebate under Section 87A is allowable on STCG under Section 111A when the assessee opts for the Section 115BAC tax 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)-1, Noida, [hereinafter referred to as “Addl./JCIT(A)”] dated 29.12.2025 for the Assessment Year 2024-25 arising out of the rectification order dated 18.11.2025 passed by the Assessing Officer at the Centralised Processig 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”),

I.T.A No. 319/JPR/2026 Page No 2 Dolly Khandelwal

2.

The grounds of appeal raised by the Revenue before us in the memorandum of appeal in Form No.

The order continues below.

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