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Provisions of section 115BBE not applicable where surrender is made to cover any discrepancy
Case Law Details
- Case Name
- Smt. Nandini Sharma Vs ACIT/DCIT Central Circle (ITAT Amritsar)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Amritsar
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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.6,26,500/- was found.
The assessment for the Ay 2019-20 was completed u/s 143(3) by invoking the provisions of section 115BBE o...
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