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Taxability of Surrendered Undisclosed Income u/s 115BBE Sent Back to AO for Re-Verification
Case Law Details
- Case Name
- Yuwam Education Private Ltd Vs DCIT (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Jaipur
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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 as included in the revenue from ope...
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