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Facts
The Revenue filed appeals against the assessee's cross objections for assessment years 2015-16 and 2017-18, concerning additions made under Section 147. The tax effect of the additions in the first appeal was Rs. 39,89,861, and in the second appeal, it was Rs. 88,41,115.
Held
The Tribunal held that the Revenue's first appeal was hit by the CBDT Circular No. 09 of 2024, which revised the monetary limit for departmental appeals to Rs. 60 lakhs. The second appeal was also dismissed in light of a Madras High Court decision stating Section 115BBE applies from 01.04.2017 onwards.
Key Issues
Whether the Revenue's appeals are maintainable in light of the revised monetary limits set by the CBDT and the applicability of Section 115BBE based on the date of transactions.
Sections Cited
147, 143(3), 115BBE
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Income Tax Appellate Tribunal, DELHI BENCH ‘G’ NEW DELHI
Before: SHRI SATBEER SINGH GODARA & SHRI MANISH AGARWAL
O R D E R PER SATBEER SINGH GODARA, J.M:
These Revenue’s twin appeals & 1837/Del/2025 with assessee’s as many cross objections C.O. Nos. 115 & 116/Del/2025 for A.Yrs.
2015-16 & 2017-18 arise against the CIT(A)/NFAC, Delhi’s as many DINs & Order Nos. ITBA/NFAC/S/250/2024-25/1072775229(1) & ITBA/NFAC/S/250/2024-25/1072776568(1), both dated 31.01.2025, in to as the ‘Act’, respectively.
Heard both the parties. Case files perused.
Coming to the Revenue’s identical instant twin appeals & 1837/Del/2025, we note at the outset that the former case herein is stated to be involving tax effect of Rs. 39,89,861/- in column no. 10 of form 36. And that the factual position is hardly any different in the latter case as well, as its sole substantive ground seeks to revive an addition of Rs. 114,44,809/- whose tax effect has been computed as Rs. 88,41,115/- as per section 115BBE of the Act.
The above being the clinching factual position, we are of the considered view that the Revenue’s above former appeal ITA 1836/Del/2025 is hit by the CBDT Circular No. 09 of 2024 dated 17.09.2024, revising the monetary limit for filing of the departmental appeals in the tribunal as Rs. 60 lakhs.
We further find that the outcome is hardly different in the Revenue’s latter case ITA 1837/Del/2025 as well in light of hon’ble Madras high court’s recent decision in the case of SMILE Microfinance Ltd. v. ACIT in WP(MD) No. 2078 of 2020 & 1742 of 2020 dated 19.11.2024 (Mad.) holding that section 115BBE of the Act applies on transactions on or after 01.04.2017 only than in F.Y. 2016-17. We rejected in very terms.
The assessee’s cross objections CO Nos. 115 & 116/Del/2025 stand rendered infructuous.
All other pleadings on merits between the parties are hereby rendered academic.
To sum up, these Revenue’s twin appeals & 1837/Del/2025 and assessee’s cross objections CO Nos. 115 & 116/Del/2025 are dismissed in above terms. A copy of this common order be placed in the respective case files.
Order pronounced in open court on 09.09.2025.