TaxTMI 
TaxTMI 
2023 (9) TMI 1476
X X X X Extracts X X X X
X X X X Extracts X X X X
.... "the Act") dated 28.12.2018 by the Assessing Officer, DCIT, Central Circle, Dehradun (hereinafter referred to as "ld. AO"). 2. The assessee has raised the following grounds of appeal:- "1. That the Order passed by the Hon'ble Commissioner of Income Tax(Appeals)-4, Kanpur is bad in law, against the facts of the case and principles of natural justice. 2. That the assessment of income by the Ld AO is illegal since the Assessment Order is based on a time barred revised Return. 3. That the Ld AO has erred in law and on facts in making addition of surrendered income during the course of search operations in this Assessment Year whereas the Appellant has distributed the income surrendered in Ass. Years 2011-12 to 2017-18, thereby the s....
X X X X Extracts X X X X
X X X X Extracts X X X X
....A as against income from business of the Appellant. 2. That having regard to the facts and circumstances of the case, impugned assessment order passed u/s 143(3) is bad in law since the tax on income surrendered on 1.12.2016 has been subjected to rate of 60% under Section 115BBE that became effective only from 15.12.2016 as against the rate of 30% that was applicable from 1.4.2016 to 14.12.2016." 6. These additional grounds go to the root of the matter, being legal in nature and no verification of facts is required, therefore same are hereby admitted for adjudication in view of the decision of the Hon‟ble Supreme Court in the case of NTPC Ltd reported in 229 ITR 383. 7. The main crux of the Additional Ground No. 1 is that whether ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....arch statement recorded u/s 132(4) of the Act. Moreover, this income of Rs. 74,96,096/- was surrendered by the assessee on 01.12.2016 itself, whereas section 115BBE as amended by the Second Amendment Act, 2016 prescribing tax rate @60% got notified only on 15.12.2016. This goes to prove that for income earned up to 14.12.2016, even if the said income is unexplained falling within the nature of income referred to section 68, 69A, 69B, 69C and 696D of the Act, still the said income would be taxed only @30%. However, if such income is earned on or after 15.12.2016, the same would be liable to be taxed @60% as per amended provision of section 115BBE. This aspect has been adjudicated by coordinate bench of Chandigarh Tribunal in the case of Sri ....