Taxpayer's Voluntary Surrender of Professional Income Should Be Taxed as Professional Income, Not Unexplained Sources u/s 69.

Taxpayer's Voluntary Surrender of Professional Income Should Be Taxed as Professional Income, Not Unexplained Sources u/s 69. https://www.taxtmi.com/highlights?id=71637 Income surrendered in survey action - undisclosed professional income - In fact, no such income has been found during the survey action. However, the assessee to keep his promise, has offered for taxation the surrendered additional professional income - Action of the AO in assessing the aforesaid surrendered income as income from unexplained sources u/s 69 cannot be held to be justified - To be taxed as professional income - AT en-us Thu, 24 Aug 2023 16:15:11 +0530 Thu, 24 Aug 2023 16:15:11 +0530 TaxTMI RSS Generator Taxpayer's Voluntary Surrender of Professional Income Should Be Taxed as Professional Income, Not Unexplained Sources u/s 69. https://www.taxtmi.com/highlights?id=71637 Income surrendered in survey action - undisclosed professional income - In fact, no such income has been found during the survey action. However, the assessee to keep his promise, has offered for taxation the surrendered additional professional income - Action of the AO in assessing the aforesaid surrendered income as income from unexplained sources u/s 69 cannot be held to be justified - To be taxed as professional income - AT Highlights Income Tax Thu, 24 Aug 2023 16:15:11 +0530 https://www.taxtmi.com/highlights?id=71637