Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2023 Year 2023 This

Applicability of higher rate of tax u/s 115BBE - The contention ...

Case Laws     Income Tax

July 27, 2023

Applicability of higher rate of tax u/s 115BBE - The contention that excess cash could be treated as business income rejected. - The action of the lower-authorities in holding excess cash as deemed income u/s 69A attracting higher rate of tax u/s 115BBE sustained - AT

View Source

 


 

You may also like:

  1. Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

  2. The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

  3. Excess stock found during survey in assessee's business premises led to surrendered income. Assessing Officer accepted return figures but applied higher tax rate u/s...

  4. Revision u/s 263 - Taxability of income disclosed in survey proceedings u/s 133A at Higher Rate of tax u/s 115BBE - ITAT quashed order treating the undisclosed income as...

  5. Addition u/s 69 r.w.s. 115BBE - Higher rate of tax treating the surrendered income as unexplained investment / income - Amount surrendered during a survey due to stock...

  6. Addition u/s 68 - Applicability of higher rate of tax u/s 115BBE - Sourcing unsecured loan against Cash Deposit - the assessee has failed to explain the source of cash...

  7. 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...

  8. Excess cash and stock found during survey proceedings were treated as income from undisclosed sources, liable for taxation u/s 115BBE. The Assessing Officer (AO) ordered...

  9. Applicability of Higher Rate of Tax u/s 115BBE - the amount surrendered during survey was duly reflected in the books of account and the source it was declared/explained...

  10. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  11. Revision u/s 263 - applicability of higher rate of tax is u/s 115BBE - incomes have been admitted by assessee during the course of survey and also offered as such in the...

  12. Unexplained investment u/s. 69B - excess stock found during the course of survey - taxability at higher rate of tax u/s 115BBE - the same is to be assessed as business...

  13. Deemed income u/s 69/69A/69B r.w.s.115BBE - Higher rate of tax u/s 115BBE confirmed on Excess Found during survey since assessee failed to prove the connection with...

  14. Higher rate of tax u/s 115BBE - As noted that the assessee has declared additional income towards excess stock found during the course of survey and assessee has...

  15. Addition u/s 69 r.w.s 115BBE - Heigher rate of income tax - The applicability of provisions of section 115BBE are not relevant in the present case as no excess stock was...

 

Quick Updates:Latest Updates