https://www.taxtmi.com/article/detailed?id=14970 The ruling addressed whether the Section 87A rebate can be applied against tax computed on short term capital gains under Section 111A for taxpayers in the new regime whose total income falls below the threshold. It concluded that, for the relevant assessment years prior to a prospective amendment, the statutory text contains no express exclusion of 111A income from the Chapter VIII rebate and that the new regime non obstante clause governs rate computation rather than rebate entitlement; administrative system denials do not supplant statutory entitlement and may be remedied by rectification or appeal. en-us Tue, 19 Aug 2025 08:39:05 +0530 Tue, 19 Aug 2025 08:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14970 The ruling addressed whether the Section 87A rebate can be applied against tax computed on short term capital gains under Section 111A for taxpayers in the new regime whose total income falls below the threshold. It concluded that, for the relevant assessment years prior to a prospective amendment, the statutory text contains no express exclusion of 111A income from the Chapter VIII rebate and that the new regime non obstante clause governs rate computation rather than rebate entitlement; administrative system denials do not supplant statutory entitlement and may be remedied by rectification or appeal. Articles Income Tax Tue, 19 Aug 2025 08:39:05 +0530 https://www.taxtmi.com/article/detailed?id=14970