Section 115BBE Inapplicable for Business Income Declared During Survey Proceedings

Ashokkumar Kesherchand Pande Vs ACIT (ITAT Pune) Income Tax Appellate Tribunal (ITAT) Pune bench has ruled in favor of assessee Ashokkumar Kesherchand Pande, challenging the application of Section 115BBE of the Income Tax Act, 1961, on income declared during a survey operation. The tribunal directed the Assessing Officer (AO) to tax the additional income at normal rates, not under the provisions of Section 115BBE. The case, Ashokkumar Kesherchand Pande Vs. ACIT (ITAT Pune), pertains to the assessment year 2019-20. Ashokkumar Kesherchand Pande, an individual engaged in the business of agricultu...