Correct head of income - receivables / debtors found during the ...

Receivables found in section 133A surveys are "business income," not deemed income, taxed under normal provisions.

August 5, 2023

Case Laws Income Tax AT

Correct head of income - receivables / debtors found during the course of survey u/s 133A - business income or deemed income u/s 69 - Applicability of higher rate of tax u/s 115BBE - the same has been rightly offered to tax under the head “business income” - Liable to normal provision of tax - AT

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Correct head of income - receivables / debtors found during the ...

Receivables found in section 133A surveys are "business income," not deemed income, taxed under normal provisions.

August 5, 2023

Case Laws Income Tax AT

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