Addition on Statement recorded during the course of survey u/s ...

Assessee Agrees to Tax Profit Embedded in Receipts; No Additional Tax Needed After Section 133A Survey.

April 6, 2020

Case Laws Income Tax AT

Addition on Statement recorded during the course of survey u/s 133A - assessee itself has accepted the stand disclosed during the course of survey - Profit embedded in such receipts deserves to be assessed to tax. - if rate of profit disclosed by the assessee in this year is applied to this receipt. The assessee has already offered more than this amount i.e. ₹ 23 lakhs. Therefore, no further addition is required to be made - AT

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Addition on Statement recorded during the course of survey u/s ...

Assessee Agrees to Tax Profit Embedded in Receipts; No Additional Tax Needed After Section 133A Survey.

April 6, 2020

Case Laws Income Tax AT

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