Section 115BBE not applicable to business income declared during survey: ITAT Pune

Anil Prabahkar Korgaonkar (HUF) Vs ACIT (ITAT Pune) In a recent decision, the Income Tax Appellate Tribunal (ITAT) Pune, in the case of Anil Prabahkar Korgaonkar (HUF) vs. ACIT, Central Circle, Kolhapur (ITA No. 395/PUN/2023), ruled in favor of the assessee regarding the applicability of Section 115BBE of the Income Tax Act, 1961. Case Background The assessee, Anil Prabahkar Korgaonkar (HUF), operates a hotel business under the name Hotel Hill Top. A survey was conducted on October 22, 2019, where certain incriminating documents were found, revealing unaccounted cash receipts amounting to ₹1...