Section 269ST apply to undisclosed income declared during survey proceedings

Shiv Shakti Enterprise Vs PCIT (ITAT Ahmedabad) ITAT Ahmedabad held that provisions of Section 269ST of the Income Tax Act 1961 would apply to undisclosed income which was declared during the survey proceedings. Facts- A survey action under Section 133A of the Act was carried out at the business premises of the assessee firm. During the course of survey, the assessee admitted an undisclosed income and working partner of the assessee firm. While filing the return of income for A.Y. 2017- 18, the assessee firm had shown the above undisclosed income under the head “any other income” in the re...