Provisions of sections 115BBE will not be applied on Surrendered Income which cannot be treated as unexplained money u/s 69A of Income Tax Act: ITAT [Read Order]

By Aparna. M - On November 22, 2023 5:00 pm - 2 mins read
Provisions - Surrendered Income - Income - unexplained money - Income Tax Act - Tax - Income tax news - tax news - taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that provisions of Section 115BBE would not be applied to surrendered income, which could not be treated as unexplained money under Section 69A of the Income Tax Act, 1961. Assessee, Tapesh Tyagi, is a resident individual. A search and seizure operation under Section 132 of the…

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