Section 87A tax rebate on STCG income allowed by CIT (Appeals)
The Mumbai bench of Commissioner of Income-tax (Appeals) has decided in the favour of Section 87A tax rebate on special rate incomes. The CIT (A) Mumbai held on February 27, 2025 that Section 87A tax rebate is available on special rate income like Short Term Capital Gains (STCG) and accordingly issued instructions to the assessing officer (AO) to allow it in the case under its consideration.