Surrendered income during survey cannot be treated as unexplained income so higher tax u/s. 115BBE not justified

Jagdish Kumar Arora Vs DCIT (ITAT Jaipur) ITAT Jaipur held that surrendered income during survey cannot be treated as unexplained income or money u/s. 69 & 69A of the Income Tax Act and tax in accordance with provisions of section 115BBE. The same has to be assessed to tax under ‘business income’. Facts- The assessee is a doctor and runs the hospital in the name of JK Hospital at Bhawanimandi. Besides this he is also engaged in to the business of real estate and developers. In the assessment proceeding, AO noted that the assessee had disclosed unexplained investment in the form of sund...