BINA PRADEEP MALLI,NAGPUR vs. ITO WARD 4(3), NAGPUR, NAGPUR

ITA 414/NAG/2026Status: DisposedITAT Nagpur07 August 2026AY 2024-253 pages
AI SummaryAllowed

What were the facts?

The assessees claimed rebate under Section 87A in their returns of income, which included short-term capital gains. The CPC denied this rebate. The appeals were filed against orders that upheld this denial.

What did the Tribunal hold?

The Tribunal held that there is no express bar in Section 87A or Section 111A of the Income Tax Act to deny rebate under Section 87A on tax payable on short-term capital gains. The assessees are entitled to the rebate.

What were the issues?

Whether rebate under Section 87A is admissible on tax payable on short-term capital gains taxable under Section 111A.

Which sections of the Income-tax Act were involved?

Section 87A,Section 111A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR ‘SMC’ BENCH, NAGPUR

Before: DR.MANISH BORAD

For Appellant: Shri Dinesh Jogani, Adv
For Respondent: DR (through virtual)
Hearing: 03.08.2026Pronounced: 07.08.2026

Heard together (2 matters)

ITA No.406/NAG/2026
ITA No.414/NAG/2026

Read from the judgment's own cause title. This page is filed under one of them.

ITA No.406/NAG/2026 at the instance of assessee pertaining to A.Y. 2024-25 is directed against the order dated 24.02.2026 framed by National Faceless Appeal Centre, Delhi (NFAC) arising out of Assessment Order dated 24.06.2025 passed u/s. 143(3) of the Inco

The order continues below.

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