System Logic Can’t Override Statute: ITAT Allows 87A Rebate on STCG u/s 111A

Manojbhai C. Kamdar Vs ITO (ITAT Rajkot)

System Logic Can’t Override Statute: ITAT Allows 87A Rebate on STCG u/s 111A for AY 2024-25 under New Tax Regime Rebate u/s 87A – No Bar in Law – Finance Bill 2025 Restriction Held Prospective

Assessee, a resident individual, filed return for AY 2024-25 declaring total income of ₹6.76 lakh (including short-term capital gains on listed equity shares taxable u/s 111A) & opted for the new regime u/s 115BAC(1A). CPC while processing u/s 143(1) denied rebate u/s

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