https://www.taxtmi.com/caselaws?id=469800 The amended first proviso to section 87A, as applicable from Assessment Year 2024-25, was interpreted to allow rebate to a resident individual assessed under section 115BAC(1A) where total income remains within the prescribed threshold. The analysis noted that neither section 87A nor section 111A contains an express exclusion denying rebate against tax on short-term capital gains, unlike section 112A(6), which specifically restricts the rebate. The later amendment operating from Assessment Year 2026-27 was treated as prospective and not applicable to the year in issue, so rebate under section 87A was available even though the income included short-term capital gains taxable under section 111A. en-us Mon, 23 Mar 2026 00:00:00 +0530 Fri, 03 Jul 2026 19:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469800 The amended first proviso to section 87A, as applicable from Assessment Year 2024-25, was interpreted to allow rebate to a resident individual assessed under section 115BAC(1A) where total income remains within the prescribed threshold. The analysis noted that neither section 87A nor section 111A contains an express exclusion denying rebate against tax on short-term capital gains, unlike section 112A(6), which specifically restricts the rebate. The later amendment operating from Assessment Year 2026-27 was treated as prospective and not applicable to the year in issue, so rebate under section 87A was available even though the income included short-term capital gains taxable under section 111A. Case-Laws Income Tax Mon, 23 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469800