ITAT Dismisses Revenue Appeal as Tax Effect Below ₹60L After 115BBE Relief

JCIT Vs Armstrong Agencies Pvt. Ltd. (ITAT Delhi) After 115BBE Relief, Tax Effect Falls Below ₹60 Lakh: ITAT Dismisses Revenue Appeal on Low Tax Effect The Delhi ITAT dismissed the Revenue’s appeal in the case of Armstrong Agencies Pvt. Ltd. for AY 2017-18 on the ground that, after applying the law laid down in S.M.I.L.E. Microfinance Ltd., the tax effect fell below the monetary limit prescribed for departmental appeals. The Tribunal noted that the Madras High Court had held that the amended provisions of Section 115BBE apply only to transactions carried out from 01.04.2017 onwards. After ...