Voluntary Survey Disclosures Do Not Attract Section 115BBE: ITAT Jaipur

Pranati Buildcon Vs ACIT/DCIT (ITAT Jaipur)

The appeal filed by Pranati Buildcon challenges the order of the lower authorities confirming the levy of tax, surcharge, and cess under section 115BBE of the Income Tax Act, 1961, in respect of Rs. 8,90,000/- admitted as undisclosed expenditure by the assessee. The issue relates to Assessment Year (AY) 2018-19.

Pranati Buildcon is a firm engaged in real estate. On 08.11.2017, a survey under section 133A of the Act was conducted at the assessee’s business premises.

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