2023 (4) TMI 1438

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....02-2023 passed by the CIT (A) in National Faceless Appeal Centre, Delhi u/s. 250 of the Income-tax Act, 1961 (hereinafter also called 'the Act') in relation to the assessment year 2019-20. 2. The only issue raised in this appeal is against the rate at which income offered by the assessee ought to have been charged. 3. Succinctly, the facts of the case are that the assessee was subjected to surve....

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....nding financial year was yet to close on the date of survey when the surrender was made. Such surrender was towards excess stock found during the course of survey. The assessee offered such amount as regular business income in his return of income, which came to be assessed by the AO u/s. 68 and consequently taxed u/s. 115BBE of the Act. Under such circumstances, a question arises as to whether th....