Taxpayer's Surrendered Income Accepted as Business Income; Section 115BBE Misapplied by AO, No Additions Made u/s 69A.

Taxpayer's Surrendered Income Accepted as Business Income; Section 115BBE Misapplied by AO, No Additions Made u/s 69A. https://www.taxtmi.com/highlights?id=68318 Addition u/s 69A - amount surrendered during survey - application of section 115BBE - AO without making any addition u/s. 69A or any other provision of the Act has accepted returned income of the assessee wherein the assessee has included surrendered amount on account of excess stock and excess cash as business income - AO was not right in observing that the assessee is liable to be taxed as per provision of section 115BBE. - AT en-us Fri, 17 Feb 2023 09:11:23 +0530 Fri, 17 Feb 2023 09:11:23 +0530 TaxTMI RSS Generator Taxpayer's Surrendered Income Accepted as Business Income; Section 115BBE Misapplied by AO, No Additions Made u/s 69A. https://www.taxtmi.com/highlights?id=68318 Addition u/s 69A - amount surrendered during survey - application of section 115BBE - AO without making any addition u/s. 69A or any other provision of the Act has accepted returned income of the assessee wherein the assessee has included surrendered amount on account of excess stock and excess cash as business income - AO was not right in observing that the assessee is liable to be taxed as per provision of section 115BBE. - AT Highlights Income Tax Fri, 17 Feb 2023 09:11:23 +0530 https://www.taxtmi.com/highlights?id=68318