2026 (7) TMI 286

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....appeal has been filed by the assessee against the order passed by the Office of the Commissioner of Income Tax (Appeal), Addl./JCIT (A)-4, Delhi (hereinafter referred to as "Ld. CIT(A)"), dated 04.08.2025 u/s 250 of the Income Tax Act, 1961(hereinafter referred to as "the Act") 2. The grounds of the appeal raised by the assessee read as under:- 1 Under the facts and the circumstances o....

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.... Act of taxes paid by the assessee on Short Term Capital Gains u/s 111A of the Act. 4. The assessee is an individual who had declared her income under the head capital gains and income from other sources for the relevant assessment year, AY 2024-25, and the assessee had opted for paying taxes in terms of the provisions of Section 115BAC of the Act. During the impugned year, the assessee had ear....

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.... CIT(A), who upheld the denial of grant of rebate to the assessee. Before me, ld. Counsel for the assessee contended that this issue has been decided in favour of the assessee by various decision of the ITAT consistently holding that where a resident assessee had opted for taxation under the new regime, i.e u/s 111BAC of the Act, and his total income was below the limit specified u/s 87A of the Ac....

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....trary decision, either of the Jurisdictional High Court or of the Hon'ble Apex Court in this regard nor distinguish the decisions relied upon on facts. 7. In view of the above, since the denial of tax rebate to the assessee u/s 87A of the Act was only on the taxes paid at special rate u/s 111A of the Act, the issues, I have no hesitation in holding, stands covered in favour of the assessee by v....