https://www.taxtmi.com/caselaws?id=426552 ITAT JAIPUR - AT held the AO's treatment of the additional declared receipts as business income was correct; they did not fall within s.68/69 and s.115BBE was not attractable. The Pr. CIT's exercise of revisional jurisdiction under s.263 was held erroneous and the s.263 proceedings and impugned order were quashed. The Tribunal also found the Pr. CIT exceeded jurisdiction in directing penalty under s.271AAC; that ground of the appellant was allowed and the assessment/order set aside in favor of the assessee. en-us Tue, 16 Aug 2022 00:00:00 +0530 Mon, 27 Oct 2025 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426552 ITAT JAIPUR - AT held the AO's treatment of the additional declared receipts as business income was correct; they did not fall within s.68/69 and s.115BBE was not attractable. The Pr. CIT's exercise of revisional jurisdiction under s.263 was held erroneous and the s.263 proceedings and impugned order were quashed. The Tribunal also found the Pr. CIT exceeded jurisdiction in directing penalty under s.271AAC; that ground of the appellant was allowed and the assessment/order set aside in favor of the assessee. Case-Laws Income Tax Tue, 16 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426552