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Income Tax - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Nature of income surrendered during the course of survey - ...

Income Tax

March 6, 2023

Nature of income surrendered during the course of survey - Addition u/s 69 r/w section 115BBE or business income - Where the assessee has subsequently recorded the same in his books of accounts as part of business income, it cannot be said that the said action on part of the assessee is not in accordance with accepted accounting methodology and the nature of such income is other than business income. - AT

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