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System Logic Can’t Override Statute: ITAT Allows 87A Rebate on STCG u/s 111A
Case Law Details
- Case Name
- Manojbhai C. Kamdar Vs ITO (ITAT Rajkot)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2024-25
- Courts
- All ITAT, ITAT Rajkot
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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 87A of ₹13,320 & raised demand of ₹15,820, reasoning...
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