Unexplained money received back via banking channel in form of sale consideration taxable u/s 115BBE
Case Law Details
Case Name : Rahul Gupta (HUF) Vs ACIT (ITAT Raipur)
Appeal Number : ITA No. 190/RPR/2018
Date of Judgement/Order : 12/05/2023
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Raipur
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Rahul Gupta (HUF) Vs ACIT (ITAT Raipur)
ITAT Raipur held that unexplained money u/s 69A of the Income Tax Act was received back through banking channel in the form of sale consideration of the shares. Accordingly, the same has to be brought to tax u/s 115BBE of the Income Tax Act
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