https://www.taxtmi.com/caselaws?id=757228 HC upheld the revision order under section 263, finding the AO erred and the assessment prejudicial to revenue. Surrendered income from excess stock and construction must be assessed as income from other sources at the special rate under section 115BBE. Professional receipts are to be taxed under section 44ADA at 50%. The HC affirmed the Tribunal's confirmation that the AO's assessments should be revised accordingly. en-us Thu, 25 Jul 2024 00:00:00 +0530 Sat, 20 Sep 2025 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757228 HC upheld the revision order under section 263, finding the AO erred and the assessment prejudicial to revenue. Surrendered income from excess stock and construction must be assessed as income from other sources at the special rate under section 115BBE. Professional receipts are to be taxed under section 44ADA at 50%. The HC affirmed the Tribunal's confirmation that the AO's assessments should be revised accordingly. Case-Laws Income Tax Thu, 25 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757228