2025 (9) TMI 224

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.... For the Revenue : Ms.R.Anitha, Addl.CIT ORDER PER AMITABH SHUKLA, A.M : This appeal is filed by the assessee against the order bearing DIN & Order No.ITBA / APL / S / 250 / 2024-25 / 1075110355(1) dated 27.03.2025 of the Learned Commissioner of Income Tax [herein after "CIT(A), Addl/JCIT(A), Udaipur, for the assessment year 2024-25. The reference to the word "Act" in this order hereinaft....

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....45) defines total income as inclusive of all heads and there is no exclusion of long-term capital gains. The Ld.Counsel accordingly argued that consequently the assessee's total income of Rs. 4,97,220/- that includes long term capital gains income, would be entitled for rebate u/s 87A. Reliance was placed upon the decision of Hon'ble Bombay High Court in the case of Rajiv G Shah (WP No.3193 of 202....

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....isions of section 87A do not provide for such an exclusion. The first proviso to section 87A includes an exemption qua total income falling u/s 115BAC (1A) however the impugned amendment has been brought by Finance Act 2024 w.e.f 01.04.2025. The present AY-2024-25 would not be hit by the same. We have noted that Hon'ble Bombay High Court in the case of Rajiv G Shah supra has held that "...there is....