Provisions of section 115BBE not applicable where surrender is made to cover any discrepancy

Smt. Nandini Sharma Vs ACIT/DCIT Central Circle (ITAT Amritsar)

ITAT Amritsar held that provisions of section 115BBE of the Income Tax Act cannot be made applicable where assessee has made a statement that the excess stock was a result of suppression of profit in respect of sales made outside the books of accounts.

Facts- During survey operations, stock of Rs.54,94,959/- was found as against stock of Rs. 48,68,459/- as per Books of Account. Thus, an excess stock of Rs.6,26

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