KAJOL PATEL vs INCOME TAX OFFICER

Whether for A.Y. 2025-26, the rebate under Section 87A of the Income Tax Act can be denied to the extent the tax liability includes tax payable on short-term capital gains chargeable under Section 111A --- Held: No, full rebate is allowable in the absence of any express statutory restriction. Whether CBDT Circular No. 13/2025 can override the statutory rebate --- Held: No, an administrative circular cannot impose a substantive restriction not found in the statute.