Section 87A Rebate Cannot Be Denied for STCG and LTCG: ITAT Indore

Advertisement Kanhaiya Lal Panchal Vs BPL-W-(91)(95) (ITAT Indore) The Income Tax Appellate Tribunal, Indore Bench adjudicated an appeal for AY 2024–25 arising from a rectification order under Section 154 and the first appellate order of the NFAC. The assessee, a resident individual, filed a return declaring total income of ₹4,15,620 comprising salary, short-term capital gains (STCG), long-term capital gains (LTCG), income from other sources, and agricultural income. He opted for the new tax regime under Section 115BAC(1A), computed tax of ₹22,536, and claimed full rebate under Sectio...