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2023 (9) TMI 212 - AT - Income TaxApplicability of provisions of section 115BBE - income declared during the course of survey proceedings - Assessee chosen to assess the additional income under the head “income from business” - HELD THAT:- There is no dispute about the quantum of addition to be made nor was there any dispute regarding the head of income under which the same was to be assessed to tax. Admittedly, the income offered, during the course of survey proceedings, was credited to the Profit & Loss Account and it was stated that the additional income is derived from the business of Hotel carried on by the appellant. Admittedly, the assessee had offered such additional income under the head “income from business” and the Assessing Officer also assessed the same under the head “income from business”. Thus, it cannot be said that the source for additional income remains unexplained. Therefore, the provisions of section 115BBE have no application to the facts of the present case. Thus, the grounds of appeal filed by the assessee stand allowed.
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