2026 (7) TMI 944

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....HITRA KAMBLE, J M: The appeal filed by the assessee is against the order passed by the Learned Commissioner of Income Tax (Appeals), ADDL/JCIT(A)-4, [in short "Ld. CIT(A)"], Bengaluru, dated 19.08.2025 for the Assessment Year (in short "AY") 2024-25. 2. The assessee has raised the following grounds of appeal: "1) The Appellant objects to the erroneous demand of Rs. 30,880/- determin....

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....sessee filed return of income on 15.07.2024 declaring total income of Rs. 4,30,020/- under the new regime u/s 115BAC of the Income Tax Act, 1961 (in short "the Act"). The assessee offered to tax Long Term Capital Gains (in short "LTCG") of Rs. 1,30,020/- on sale of immovable property which was taxable to tax u/s 112 of the Act. Since the total income was below Rs. 7,00,000/-, the assessee claimed ....

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....on LTCG of Rs. 25,000/- which is not barred by law. The Ld. AR submitted that section 87A of the Act does not mention that rebate cannot be claimed against LTCG tax. It only provided that where the total income of the assessee is chargeable to tax under sub clause (1A) of section 115BAC of the Act, and the total income does not exceed Rs. 7,00,000/-, the assessee is eligible for a rebate of 100% o....

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....Ld. Departmental Representative (in short "Ld. DR") relied upon the assessment order and the order of the Ld. CIT(A). The Ld. DR further pointed out that the provisions of section 112(6) of the Act categorically denies rebate u/s 87A of the Act on the LTCG earned from any capital gains if it exceeds Rs. 1,00,000/-. In the instant case, the assessee has declared LTCG of Rs. 2,76,858/-. Therefore, t....