PCIT noted that the disclosed amount must be
taxed under Section 115BBE of the Act rather than
being shown as business income. In verification ... partners which are not
permissible deductions as per the provisions of
Section 115BBE of the Act. Therefore, the
assessment order being erroneous and prejudicial
Page
case in imposing
tax, surcharge, cess etc. as per provision of S.115BBE of the Act. The invoking of
S.115BBE is contrary
taxing the same by applying provisions of section 115BBE of IT.
Act alleging the same as undisclosed income of appellant and further erred in
reducing ... charged u/s 115BBE of the IT Act.
4. Aggrieved from the order of Assessing Officer, assessee preferred an
appeal before
under section 68 of the Income Tax Act, 1961 read with Section
115BBE of the Act as the provisions of section 68 are only attracted ... opinion of the Assessing Officer,
satisfactory and provisions of section 115BBE can be subjected to only when
section 68 is attracted. In the case
amount as
"deemed Income" u/s 69 read with section 115BBE of Income Tax Act 1961. The
surrendered amount is on account excess ... amount of Rs. 69,66,000/- was brought to
tax under section 115BBE of the Act.
4. Here it would be relevant to refer
action of the ld. AO in invoking the provisions of Sec. 115BBE
and also erred in confirming the action of the ld. AO in taxing ... cess in place of 30% tax rate under the provisions of
Sec. 115BBE for the year under consideration with retrospective effects , while
the same
declared by the assessee and invoking the provisions of
section 115BBE for taxing the same. The action of the Id. CIT(A) is
illegal, unjustified ... please be granted by quashing the invocation of the provisions of
section 115BBE of the IT Act, 1961.
4. In the facts and circumstances
declared by the assessee and invoking the provisions of
section 115BBE for taxing the same. The action of the Id. CIT(A) is
illegal, unjustified ... please be granted by quashing the invocation of the provisions of
section 115BBE of the IT Act, 1961.
4. In the facts and circumstances
declared by the assessee and invoking the provisions of
section 115BBE for taxing the same. The action of the Id. CIT(A) is
illegal, unjustified ... please be granted by quashing the invocation of the provisions of
section 115BBE of the IT Act, 1961.
4. In the facts and circumstances
declared by the assessee and invoking the provisions of
section 115BBE for taxing the same. The action of the Id. CIT(A) is
illegal, unjustified ... please be granted by quashing the invocation of the provisions of
section 115BBE of the IT Act, 1961.
4. In the facts and circumstances
