S.M.I.L.E. Micro Finance Ltd. v. ACIT (479 ITR 172)

INCOME TAX OFFICER 34(2), NEW DELHI vs. KAUSHAL KISHOR MISHRA, AJ

The appeal of the revenue is dismissed as not maintainable

ITA 4031/DEL/2024[2017-18]Status: DisposedITAT Delhi27 Mar 2026AY 2017-18

Bench: Shri M. Balaganesh & Shri Sudhir Kumarincome Tax Officer, Vs. Kaushal Kishor Mishra, Ward-34(1), E-2, Block, New Delhi New Delhi (Appellant) (Respondent) Pan: Czepm8418D

For Appellant: Shri Amarbir Singh Walia, AdvFor Respondent: Shri Om Prakash, Sr. DR

Section 115BSection 143(3)Section 69A

…revenue. We find that the revenue had applied tax rate of 60% as per section 115BBE of the Act and had arrived at the tax effect figure of Rs 1,30,36,204. But we find that the Hon’ble Madras High Court in the case of Smile Microfinance Ltd vs ACIT reported in 479 ITR 172 (Mad) had categorically held that the enhanced rate of tax of 60% provided under section 115BBE of the Act shall not be applicable for transactions prior to 1.4.2017. Hence applying the tax at the normal rate of 30% plus applicable surcharge and cess, the tax effect involved in the present appeal of the revenue works out to Rs 57,16,838, which wo…

KRISHNAMURTHY PANDY,THANJAVUR vs. ITO, WARD-1,, THANJAVUR

In the result, the appeal filed by the assessee stands allowed

ITA 2560/CHNY/2025[2017-18]Status: DisposedITAT Chennai14 Jan 2026AY 2017-18

Bench: Shri Aby T Varkey & Shri S. R. Raghunatha

For Appellant: Shri. R. Santhanu, C.AFor Respondent: Ms. Gouthami Manivasagam, J.C.I.T

Section 115BSection 133(6)Section 142(1)Section 143(2)Section 143(3)Section 69A

…x rate is 30% since the amendment increasing the tax rate to 60% came into effect on 01.04.2017 which is applicable from Assessment Year 2018-17 and relied on the decision of Hon'ble Jurisdicational High Court, Madras in SMILE Microfinance Ltd. V. ACIT (2025) 479 ITR 172 (Mad.) which held this amendment to be prospective. It was thus prayed that the addition made u/s.69A of the Act to be deleted. 7. The ld.counsel for assessee filed a paperbook with the comparative data to prove the business consistency and that there was no abnormal spike I sales during the relevant period. It is reproduced as under: Period AY…

MEETA GHOSH,GURGAON vs. ITO WARD 2(5), GURGAON

In the result, appeal is allowed for statistical purpose

ITA 4424/DEL/2025[2017-18]Status: DisposedITAT Delhi16 Dec 2025AY 2017-18

Bench: Shri Mahavir Singh, Hon’Ble & Shri Sanjay Awasthiआ.अ.सं/.I.T.A No.4424/Del/2025 िनधा"रणवष"/Assessment Year:2017-18 बनाम Smt. Meeta Ghosh, Income Tax Officer, H.No.38/7, Phase-1, Gurgaon, Vs. Ward 2(5), Gurgaon, Haryana, India. Haryana. Pan No.Abapg6666K अपीलाथ" Appellant ""यथ"/Respondent

Section 115BSection 250Section 69A

…ITA No.4424/Del/2025 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”NEW DELHI BEFORE SHRI MAHAVIR SINGH, HON’BLE VICE PRESIDENT AND SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER आ.अ.सं/.I.T.A No.4424/Del/2025 िनधा"रणवष"/Assessment Year:2017-18 बनाम SMT. MEETA GHOSH, INCOME TAX OFFICER, H.No.38/7, Phase-1, Gurgaon, Vs. Ward 2(5), Gurgaon, Haryana, INDIA. Haryana. PAN No.ABAPG6666K अपीलाथ" Appellant ""यथ"/Respondent Assessee by Shri Manuj Sabharwal, Advocate and Shri Devvirat Tiwar, Advocate Revenue by Shri Sabyasachi Roy, Sr. DR सुनवाईक"तारीख/ Date of hearing: 16.12.2025 16.12.2025 उ"ोषणाक"तारीख/Pronouncement on…

REVA ENTERPRISE,NARMADA vs. INCOME TAX OFFICER, WARD 2(1), BHARUCH, BHARUCH

In the result, ITA No.259/SRT/2024 is partly allowed, ITA No

ITA 414/SRT/2024[2017-18]Status: DisposedITAT Surat17 Nov 2025AY 2017-18

Bench: Ms. Suchitra Raghunath Kamble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.259, 380 & 414/Srt/2024 Assessment Years: (2017-18) (Hybrid Hearing) Reva Enterprises, बनाम/ Income Tax Officer, Vs. Plot No. 50, Gandhi Market, Ward – 2(4), Rajpipla Road, Ankleshwar, Bharuch Sarangpore, Narmada - 393001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aanfr8509E (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रतीकीओरसे/Appellant By Shri Mehul Shah, Ca राज"कीओरसे /Respondent By Shri Ajay Uke (Sr. Dr) With Shri Kevin Langaliya, Ca सुनवाई की तारीख/Date Of Hearing 18/08/2025 उद्घोषणा की तारीख/Date Of Pronouncement 17/11/2025

Section 115BSection 131(1)(d)Section 133(6)Section 250Section 271ASection 271FSection 69A

…/2019 and the Jabalpur Bench in ACIT vs. Sandesh Kumar Jain, in ITA No.41/Jab/2020 held that applicability of amended provision of Section 115BBE of the Act is not retrospective. The Hon'ble Madras High Court in case of S.M.I.L.E. Micro Finance Ltd. vs. ACIT, 479 ITR 172 (Mad.) has held that amendment to section 115BBE increasing rate of tax on income referred to in section 68 from 30% to 60% with w.e.f. 01.04.2017 is not applicable to transactions prior to 01.04.2017. Hence, the enhanced rate is not applicable for AY 2017-18. Respectfully following the above decisions, the AO is directed to tax the addition at n…

REVA ENTERPRISE,NARMADA vs. INCOME TAX OFFICER, WARD 2(1), BHARUCH, BHARUCH

In the result, ITA No.259/SRT/2024 is partly allowed, ITA No

ITA 380/SRT/2024[2017-18]Status: DisposedITAT Surat17 Nov 2025AY 2017-18

Bench: Ms. Suchitra Raghunath Kamble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.259, 380 & 414/Srt/2024 Assessment Years: (2017-18) (Hybrid Hearing) Reva Enterprises, बनाम/ Income Tax Officer, Vs. Plot No. 50, Gandhi Market, Ward – 2(4), Rajpipla Road, Ankleshwar, Bharuch Sarangpore, Narmada - 393001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aanfr8509E (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रतीकीओरसे/Appellant By Shri Mehul Shah, Ca राज"कीओरसे /Respondent By Shri Ajay Uke (Sr. Dr) With Shri Kevin Langaliya, Ca सुनवाई की तारीख/Date Of Hearing 18/08/2025 उद्घोषणा की तारीख/Date Of Pronouncement 17/11/2025

Section 115BSection 131(1)(d)Section 133(6)Section 250Section 271ASection 271FSection 69A

…/2019 and the Jabalpur Bench in ACIT vs. Sandesh Kumar Jain, in ITA No.41/Jab/2020 held that applicability of amended provision of Section 115BBE of the Act is not retrospective. The Hon'ble Madras High Court in case of S.M.I.L.E. Micro Finance Ltd. vs. ACIT, 479 ITR 172 (Mad.) has held that amendment to section 115BBE increasing rate of tax on income referred to in section 68 from 30% to 60% with w.e.f. 01.04.2017 is not applicable to transactions prior to 01.04.2017. Hence, the enhanced rate is not applicable for AY 2017-18. Respectfully following the above decisions, the AO is directed to tax the addition at n…

REVA ENTERPRISE,ANKLESHWAR vs. INCOME TAX OFFICER, WARD 2(4), BHARUCH, BHARUCH

In the result, ITA No.259/SRT/2024 is partly allowed, ITA No

ITA 259/SRT/2024[2017-18]Status: DisposedITAT Surat17 Nov 2025AY 2017-18

Bench: Ms. Suchitra Raghunath Kamble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.259, 380 & 414/Srt/2024 Assessment Years: (2017-18) (Hybrid Hearing) Reva Enterprises, बनाम/ Income Tax Officer, Vs. Plot No. 50, Gandhi Market, Ward – 2(4), Rajpipla Road, Ankleshwar, Bharuch Sarangpore, Narmada - 393001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aanfr8509E (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रतीकीओरसे/Appellant By Shri Mehul Shah, Ca राज"कीओरसे /Respondent By Shri Ajay Uke (Sr. Dr) With Shri Kevin Langaliya, Ca सुनवाई की तारीख/Date Of Hearing 18/08/2025 उद्घोषणा की तारीख/Date Of Pronouncement 17/11/2025

Section 115BSection 131(1)(d)Section 133(6)Section 250Section 271ASection 271FSection 69A

…/2019 and the Jabalpur Bench in ACIT vs. Sandesh Kumar Jain, in ITA No.41/Jab/2020 held that applicability of amended provision of Section 115BBE of the Act is not retrospective. The Hon'ble Madras High Court in case of S.M.I.L.E. Micro Finance Ltd. vs. ACIT, 479 ITR 172 (Mad.) has held that amendment to section 115BBE increasing rate of tax on income referred to in section 68 from 30% to 60% with w.e.f. 01.04.2017 is not applicable to transactions prior to 01.04.2017. Hence, the enhanced rate is not applicable for AY 2017-18. Respectfully following the above decisions, the AO is directed to tax the addition at n…

S.M.I.L.E. Micro Finance Ltd. v. ACIT

Sections most often in play

Issues it is cited on

Judgments citing S.M.I.L.E. Micro Finance Ltd. v. ACIT

INCOME TAX OFFICER 34(2), NEW DELHI vs. KAUSHAL KISHOR MISHRA, AJ

KRISHNAMURTHY PANDY,THANJAVUR vs. ITO, WARD-1,, THANJAVUR

MEETA GHOSH,GURGAON vs. ITO WARD 2(5), GURGAON

REVA ENTERPRISE,NARMADA vs. INCOME TAX OFFICER, WARD 2(1), BHARUCH, BHARUCH

REVA ENTERPRISE,NARMADA vs. INCOME TAX OFFICER, WARD 2(1), BHARUCH, BHARUCH

REVA ENTERPRISE,ANKLESHWAR vs. INCOME TAX OFFICER, WARD 2(4), BHARUCH, BHARUCH