Income Tax Officer, Ward-29(7), New Delhi-110002 Vs Praveen Chaudhary

Parties Involved

Facts Summary

This Revenue’s appeal for Assessment Year 2017-18, arises against the CIT(A)/NFAC, Delhi’s DIN & order No. ITBA/NFAC/S/250/2024–25/1071038675(1) dated 09.12.2024, in proceedings u/s 143(3) of the Income Tax Act, 1961. The Revenue seeks to revive section 69A r.w.s 115BBE addition of Rs.80,15,000/-. The tax effect in the Revenue's instant appeal is less than the minimum prescribed limit of Rs.60 lakhs in the CBDT latest Circular No. 9/2024, dated 17.09.2024. The learned departmental representative argues that the Revenue’s Form-36 has computed a tax effect of Rs.60,11,250/- in light of section 115BBE of the Act.…

Legal Issues

• 1. Revival of section 69A r.w.s 115BBE addition of Rs.80,15,000/-

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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