Section 115BBE(2) not applicable to Assessment Year 2012-13

ACIT Vs A One Enclave (ITAT Indore) At any stage revenue has not disputed the fact that the alleged amount surrendered during the survey was unaccounted business income of the assessee and not from any other sources. Section 11 5BBE of the Act was inserted by Finance Act, 2012 w.e.f. 1.4.2013 which restricts the claim of deduction in respect of any expenditure or allowance or set off of any loss against the income shown by the assessee or assessed u/s 68, 69, 69A,69B, 69C & 69D of the Act. The instant appeal relates to Assessment Year 2012-13 and therefore the assessee’s case will no...