https://www.taxtmi.com/caselaws?id=434897 The Tribunal allowed the appeal, holding that the surrendered business income, treated as unrealized sundry receivables, was part of normal business income and not subject to penal action under section 115BBE. The Tribunal emphasized that the surrendered amount, being business income, could not be taxed under deeming provisions, setting aside the Assessing Officer's order and ruling in favor of the assessee. en-us Fri, 03 Mar 2023 00:00:00 +0530 Mon, 06 Mar 2023 11:22:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434897 The Tribunal allowed the appeal, holding that the surrendered business income, treated as unrealized sundry receivables, was part of normal business income and not subject to penal action under section 115BBE. The Tribunal emphasized that the surrendered amount, being business income, could not be taxed under deeming provisions, setting aside the Assessing Officer's order and ruling in favor of the assessee. Case-Laws Income Tax Fri, 03 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434897