Section 115BBE Not Applicable to Business Income Offered During Survey: ITAT Chandigarh

Rajiv Kumar Vs ITO (ITAT Chandigarh)

Assessee, proprietor of M/s Sunil Sweets, appealed against the order of CIT(A), NFAC, challenging the levy of tax at 60% u/s 115BBE on additional income of ₹35 lakhs offered during a survey action. The amount represented excess cash, excess stock, unaccounted advances, & investment in building disclosed during & after the survey. Revenue had treated it as deemed income u/s 69/69A–69D & taxed it at the higher rate prescribed u/s 115BBE.

Assessee argued that the disclosure was part of his regular business income arising from

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