Rebate u/s 87A on STCG from Shares Allowed under New Tax Regime: CIT(A) directs JAO to Verify Claim Again

The ITAT has directed the Joint Assessing Officer (JAO) to verify a claim for rebate under Section 87A on Short-Term Capital Gains (STCG) from shares under the new tax regime. The taxpayer had claimed a rebate under Section 87A, but the JAO was instructed to recheck the claim to ensure compliance with the tax provisions. The ruling emphasizes the importance of accurate documentation and verification, ensuring that taxpayers are not denied legitimate rebates. This case underscores the critical role of proper verification in the application of the new tax regime and the rebates available under it.