https://www.taxtmi.com/caselaws?id=458946 The Appellate Tribunal concluded that section 115BBE of the Income Tax Act was not applicable to the additional income declared during the survey proceedings, as it was credited under the head "Income from business" and assessed accordingly. The Tribunal reversed the orders of the lower authorities, directing the Assessing Officer to tax the additional income at the normal rate of income tax. Consequently, the appeal was allowed in favor of the appellant, and the additional income was not subjected to the higher tax rate under section 115BBE. en-us Mon, 31 Jul 2023 00:00:00 +0530 Fri, 22 Nov 2024 19:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458946 The Appellate Tribunal concluded that section 115BBE of the Income Tax Act was not applicable to the additional income declared during the survey proceedings, as it was credited under the head "Income from business" and assessed accordingly. The Tribunal reversed the orders of the lower authorities, directing the Assessing Officer to tax the additional income at the normal rate of income tax. Consequently, the appeal was allowed in favor of the appellant, and the additional income was not subjected to the higher tax rate under section 115BBE. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458946