https://www.taxtmi.com/caselaws?id=776654 The ITAT Ahmedabad held that a resident individual opting for the new tax regime under section 115BAC(1A) with total income below Rs. 7,00,000 is eligible to claim rebate under section 87A against tax payable on short-term capital gains taxable under section 111A. The tribunal found no express statutory bar in sections 87A or 111A denying such rebate for A.Y. 2024-25. The denial by CPC and CIT(A) was deemed incorrect as it was system-driven and not based on law. The AO was directed to allow the rebate and recompute the tax liability, deleting the demand raised. The assessee's appeal was allowed. en-us Tue, 12 Aug 2025 00:00:00 +0530 Thu, 28 May 2026 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776654 The ITAT Ahmedabad held that a resident individual opting for the new tax regime under section 115BAC(1A) with total income below Rs. 7,00,000 is eligible to claim rebate under section 87A against tax payable on short-term capital gains taxable under section 111A. The tribunal found no express statutory bar in sections 87A or 111A denying such rebate for A.Y. 2024-25. The denial by CPC and CIT(A) was deemed incorrect as it was system-driven and not based on law. The AO was directed to allow the rebate and recompute the tax liability, deleting the demand raised. The assessee's appeal was allowed. Case-Laws Income Tax Tue, 12 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776654