Section 87A rebate denied by CPC on STCG? ITAT Jaipur ruling offers relief to taxpayer for AY 2024-25
The Income Tax Appellate Tribunal (ITAT) Jaipur ruled that taxpayers can claim a Section 87A rebate on short-term capital gains (STCG) for Assessment Year 2024-25. The Tribunal found no express restriction in the law preventing this rebate, despite the Centralised Processing Centre denying it. This ruling may impact future claims for rebates on STCG, providing clarity for taxpayers.