SESHANK MAHADEV,CHENNAI vs. DEPUTY DIRECTOR OF INCOME TAX, CPC BENGALURU

ITA 2274/CHNY/2025Status: DisposedITAT Chennai24 October 2025AY 2024-25Bench: Shri M. Balaganesh (Accountant Member), Shri S.S. Viswanethra Ravi (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee is eligible for the rebate under Section 87A of the Act, even with income that includes short-term capital gains taxable under Section 111A and long-term capital gains under Section 112A, as there is no statutory exclusion for these incomes.

What were the facts?

The assessee claimed a rebate under Section 87A of the Income Tax Act, 1961. The CPC denied this rebate. The assessee's appeals to the CIT(A) and the ITAT were based on the eligibility for this rebate, particularly in light of income from short-term and long-term capital gains taxed at special rates.

What were the issues?

Whether rebate under Section 87A is allowable on income including short-term and long-term capital gains taxed at special rates under Sections 111A and 112A, especially under the new regime of Section 115BAC.

Which sections of the Income-tax Act were involved?

Section 87A,Section 143(1),Section 250,Section 115BAC,Section 111A,Section 112A

AI-generated summary — verify with the full judgment below

Before: Shri M. Balaganesh & Shri S.S. Viswanethra Ravi

Hearing: 22.10.2025Pronounced: 24.10.2025

PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER:

This appeal filed by the assessee is directed against the order dated 02.06.2025 passed by the Addl./JCIT(A), Indore for the assessment year 2024-25. 2. At the outset, we note that the CPC denied the rebate claimed by the assessee under section 87A of the Income Tax Act, 1961 [“Act” in short] vide intimation order under section 143(1) of the Act dated 12.11.2024. Against th

The order continues below.

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