2025 (10) TMI 1451

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....see For the Respondent : Shri C.P. Solomon, JCIT ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order dated 02.06.2025 passed by the Addl./JCIT(A), Indore for the assessment year 2024-25. 2. At the outset, we note that the CPC denied the rebate claimed by the assessee under section 87A of the Income Tax Act, 1961 ["Act" in....

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....e the ld. CIT(A), contended that the assessee is eligible for rebate under section 87A of the Act under new regime under section 115BAC of the Act. The ld. CIT(A), however, did not found the said submission as acceptable and confirmed the disallowance made by the CPC by holding that income under section 111A and 112A of the Act are chargeable at special rate, hence, the assessee is not eligible fo....

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.... whose total income does not exceed Rs..7,00,000/- and assessed under section 115BAC(1A) of the Act. Therefore, we find no express bar either under section 87A of the Act nor under section 111A of the Act for denial of rebate in respect of tax payable on short term capital gains arising from transfer of listed equity shares taxable at special rates under section 111A of the Act. Accordingly, we ho....