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Income Tax - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Revision u/s 263 - nature and source of income surrendered - ...

Income Tax

March 21, 2023

Revision u/s 263 - nature and source of income surrendered - Addition invoking Section 115BBE - Where AO after due appreciation of facts and circumstances of the case, assessed the income under the head “business income” and didn’t invoke the deeming provisions as so suggested by the ld PCIT, we do not believe that there is any error on part of the Assessing officer and the order so passed by him cannot be held as erroneous. - AT

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