2026 (8) TMI 1350

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.... PER : PRAKASH, ACCOUNTANT MEMBER:- 1. This appeal by the Revenue is directed against the order of the learned Additional/Joint Commissioner of Income Tax (Appeals)-1, Noida, [hereinafter referred to as "Addl./JCIT(A)"] dated 29.12.2025 for the Assessment Year 2024-25 arising out of the rectification order dated 18.11.2025 passed by the Assessing Officer at the Centralised Processig Centre (h....

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....has made it expressly clear that it was never the statutory intent to allow rebate in cases where income is chargeable to tax u/s 115BAC(1) of the Act, 1961 and any such cases where rebate is erroneously claimed are to be rectified, thereby having no doubt that such claim was statutorily never permissible 3. The appellant craves leave OR reserves right to amend, modify, 3 alter, add OR fo....

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....e said order of the learned Addl./JCIT(A), the Revenue is in appeal before us. 5. The only issue that arises for our consideration is whether a rebate under section 87A of the Act is allowable on the tax computed on short term capital gain offered to tax under section 111A of the Act, where the assessee has opted for the tax regime under section 115BAC of the Act for the Assessment Year 2024-25....

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....ssessment Year 2024-25, has considered identical facts and has held that a rebate under section 87A of the Act is allowable in such a situation. 9. The issue is thus covered in favour of the assessee by the decision of the coordinate Bench as well as by the decision of the Hon'ble Ahmedabad Bench of the Tribunal, and the Revenue has not been able to place before us any contrary decision of the ....