Taxability of Surrendered Undisclosed Income u/s 115BBE Sent Back to AO for Re-Verification

Yuwam Education Private Ltd Vs DCIT (ITAT Jaipur)

ITAT Jaipur held that taxability of surrendered undisclosed income under section 115BBE of the Income Tax Act requires verification on the part of the AO. Accordingly, matter restored back to the file of AO.

Facts- A survey was conducted during the FY 2015-16 and the assessee surrendered undisclosed income of Rs. 46,68,281/ on account of undisclosed receipts. This amount was surrendered, considering the discrepancies found at the time of survey. The assessee was found to have shown the said undisclosed income

Please become a Premium member. If you are already a Premium member, login here to access the full content.