Levy of Tax u/s 115BBE @60% - Income surrendered during the ...

Income Tax

October 1, 2020

Levy of Tax u/s 115BBE @60% - Income surrendered during the course of search - the provisions of Section 69 were not applicable as the business transactions were recorded in the books of account and the assessee either earned commission or profit on all those Real Estate transactions. - A.O. is directed to tax the entire surrendered income at the normal rate of tax. - AT

View Source

← Previous Next →

Levy of Tax u/s 115BBE @60% - Income surrendered during the ...

Income Tax

October 1, 2020

You may also like:

Addition u/s 69 - the income surrendered during the course of survey cannot be brought to tax under the deeming provisions of section 69 and the same has been rightly...

Revision u/s 263 - Levy of tax @60% on undisclosed income - AO completed the assessment after considering the explanation offered by the assessee. In the explanation,...

Higher rate of tax @60% u/s 115BBE - though the alleged surrendered income is a business income but since assessee being individual having no limitation of earning...

Income surrendered during survey - Levy of higher rate of tax u/s 115BBE - the income surrendered during the course of survey cannot be brought to tax under the deeming...

Surrender of income during survey - to be treated as Business income or taxable u/s 69 - AO was not justified in taxing the surrender made on account of excess stock and...

Addition u/s 69B - higher rate of tax u/s 115BBE - excess stock surrendered during the course of survey - There is no infirmity in the finding of Ld. CIT(A) rightly...

Nature of unaccounted surrendered income emanating from the seized document - business income OR deemed income u/s 69 - The income is business income relatable to...

Undisclosed investment v/s business income - addition u/s. 69 - It is a case of excess stock found during the carrying of the business and stock is generated out of...

Revision u/s 263 - nature of income surrendered in survey proceedings - deeming provision r.w.s 115BBE - Higher Rate of Tax - assessee has provided the necessary...

Revision u/s 263 by CIT - addition were made u/s 69 and 69C - ld PCIT has stated that the AO has not applied the rate of tax as per section 115BBE, what he meant was...

Quick Updates: