Section 87A Rebate Available Despite LTCG at Special Rates: ITAT Chennai

Advertisement Venkedapathy Venugopal Vs ITO (ITAT Chennai) The Income Tax Appellate Tribunal (ITAT), Chennai allowed the assessee’s appeal against the order dated 29.05.2025 passed by the Commissioner of Income Tax (Appeals), Addl./JCIT(A)-2, Delhi, arising from the intimation issued under Section 143(1) by the Centralized Processing Centre (CPC), Bengaluru, for Assessment Year (AY) 2024-25. The dispute concerned the denial of rebate of ₹25,000 under Section 87A of the Income-tax Act, 1961. The assessee challenged the order on the ground that the CIT(A) had wrongly confirmed the den...