Sec. 115BBE special rates not applied to income surrendered during survey

DCIT Vs Balaji Ramchandra Ande (ITAT Pune)

ITAT Pune held that additional income surrendered during the course of survey is taxable at normal rates and not at special rates as per section 115BBE of the Income Tax Act. Accordingly, appeal of revenue dismissed.

Facts- AO, during the course of assessment proceedings, noted that at the time of survey statement of the assessee was recorded u/sec.131 in which the assessee has declared additional income of 3,52,40,780/- for the assessment year 2018-2019 which is over and above the regular income.

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