SIDDHI CHHAJED, RAJNANDGAON,RAJNANDGAON vs. INCOME TAX OFFICER WARD RAJNANDAON, RAJNANDGAON

ITA 832/RPR/2025Status: HeardITAT Raipur03 March 2026AY 2024-25Bench: SHRI PARTHA SARATHI CHAUDHURY (Judicial Member)5 pages
AI SummaryAllowed

What did the Tribunal hold?

The tribunal held that since the assessees' total income was below Rs. 7 lakhs, they were entitled to the deduction under Section 87A, clause (a). The disallowance based solely on technicalities of computation method, without demonstrating any loss to the Revenue, was not justified. The tribunal set aside the CIT(Appeals) orders and directed the Assessing Officer to allow the deduction.

What were the facts?

The assessees, Titiksha Chhajed and Siddhi Chhajed, claimed exemption under Section 87A of the Income Tax Act, 1961, against short-term capital gains for the assessment year 2024-25. Their total declared incomes were below Rs. 7 lakhs. The CIT(Appeals)/NFAC denied the exemption on technical grounds related to the method of computation.

What were the issues?

The key legal issue was whether the exemption under Section 87A could be denied on technical grounds of computation method when the assessee's total income clearly fell within the prescribed limit for the deduction.

Which sections of the Income-tax Act were involved?

Section 87A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH “SMC”, RAIPUR

Before: SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Parasmal Chhajed, CA
For Respondent: Dr. Priyanka Patel, Sr. DR
Hearing: 03.03.2026Pronounced: 03.03.2026

PER PARTHA SARATHI CHAUDHURY, JM The captioned appeals preferred by the assessee emanates from the respective orders of the Ld.CIT(Appeals)/NFAC, dated 21.11.2025 & 17.10.2025 for the assessment year 2024-25 as per the grounds of appeal on record.

2.

Both the parties herein conceded that since the facts and issue

The order continues below.

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