Case Law Analysis
|Income Tax Appellate Tribunal
Section 87A Rebate Applies to STCG Under Section 111A Even Under New Tax Regime: ITAT Pune
ITAT Pune holds that the rebate under Section 87A of the Income Tax Act extends to short-term capital gains (STCG) taxable under Section 111A, even for assessees opting for the new tax regime. The ruling overturns CPC's denial of the full rebate, reinforcing that tax rebates must be applied to all eligible income heads without arbitrary restrictions.