Revision u/s 263 - Taxability of income disclosed in survey ...

Case Laws Income Tax

January 30, 2024

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 business income and not under the higher tax rate provisions of Section 115BBE. - The High court agreed with the Tribunal's finding that sufficient inquiry was made and the income was rightly treated as business income, thus, upholding the Tribunal's decision.

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Revision u/s 263 - Taxability of income disclosed in survey ...

Case Laws Income Tax

January 30, 2024

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