Section 87A Rebate Allowed on STCG Due to Absence of Statutory Restriction: ITAT Rajkot

Advertisement Padmaben Kantilal Ranpara Vs ITO (ITAT Rajkot) The Income Tax Appellate Tribunal (ITAT), Rajkot allowed the assessee’s appeal against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, dated 26.06.2025, arising from an intimation issued under Section 143(1) of the Income-tax Act, 1961 for Assessment Year (AY) 2024-25. The dispute concerned the denial of rebate under Section 87A amounting to ₹23,653 in respect of Short-Term Capital Gains (STCG) of ₹3,46,992 taxable under Section 111A. The assessee contended that the t...