https://www.taxtmi.com/highlights?id=65329 Revision u/s 263 - Correct source of income - special rate of tax u/s. 115BBE - As per CIT income of the assessee should have been assessed as unexplained cash credit, rather than business income - In assessee’s case the amount is not recorded in the books of accounts and directly offered to tax in the statement of computation (page 12 of paper book) as additional income under the head profits and gains of business or profession. - Provisions of section 68 not applicable - Revision order is not valid - AT en-us Mon, 29 Aug 2022 08:30:57 +0530 Mon, 29 Aug 2022 08:30:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65329 Revision u/s 263 - Correct source of income - special rate of tax u/s. 115BBE - As per CIT income of the assessee should have been assessed as unexplained cash credit, rather than business income - In assessee’s case the amount is not recorded in the books of accounts and directly offered to tax in the statement of computation (page 12 of paper book) as additional income under the head profits and gains of business or profession. - Provisions of section 68 not applicable - Revision order is not valid - AT Highlights Income Tax Mon, 29 Aug 2022 08:30:57 +0530 https://www.taxtmi.com/highlights?id=65329