JOINT COMMISSIONER OF INCOME TAX (IN-SITU), JAIPUR vs. GAURAV SHARMA, JAIPUR

ITA 698/JPR/2026Status: DisposedITAT Jaipur25 August 202615 pages
AI SummaryDismissed

What were the facts?

The Revenue appealed against the CIT(A)'s order allowing rebate under Section 87A on short-term capital gains (STCG) taxable under Section 111A. The assessee had opted for the new tax regime under Section 115BAC.

What did the Tribunal hold?

The Tribunal held that Section 87A is an independent rebate provision and its eligibility is not restricted by Section 115BAC or Section 111A for the assessment year in question. The plain language of the statute and the prospective nature of subsequent amendments support this view.

What were the issues?

Whether rebate under Section 87A is allowable on short-term capital gains taxable at special rates 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

Before: SMT. ANNAPURNA GUPTA & SHRI KULDIP SINGH

Hearing: 12.08.2026Pronounced: 25.08.2026

Heard together (2 matters)

CO No. 11/JPR/2026
ITA No. 698/JPR/2026

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

Per Annapurna Gupta, AM:- The present appeal has been filed by the Revenue and the cross- objection has been filed by the assessee against the order passed by Office of the Commissioner of Income Tax, Appeal, Addl./JCIT(A), 01 Coimbatore (hereinafter referred to as “Ld. CIT(A)”) dated 12.01.2026 under Secti

The order continues below.

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