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Informative

Section 115BBE of Income Tax Act Applies on Transactions On or After 01.04.2017 Only: ITAT

Update / Judgement Date

29 Aug 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

The ITAT has ruled that "Section 115BBE of the Income Tax Act applies on transactions on or after April 1, 2017, only." The tribunal's decision, which is a significant victory for the company, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.