Answers On Topic: Section 115BBE
Section 115BBE (1) in both sub clauses (a) & (b) of the act, use the word if the total income ‘includes’ any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D Therefore, is it a pre-condition that section 115BBE would apply only when an assessee has total income which includes both regular income and specified income ?? IF the only income of appellant is specified income and if that Specified Income (i.eUnexplained Investment u/s 69) is Only Rs 1,00,000/- and regular income is NIL whether section 115BBE working be applied ? For calculation of tax between (i) and (ii)…
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Does 115BBE apply to amount declared during survey u/s 133A?
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In respect of Excess Stock and Excess Cash Found during the course of Survey,Assessing Officer has invoked Section 115BBE.Whereas, Assessee has offered these Amounts for taxation under theHead-Business Income and paid the the Tax under normal provisions.Whether Assessing officer is right.
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Can AO invoke provision of section 270A just because tax at higher rate is applied by him u/s 115BBE and no addition to income is made on income declared is offered at normal rate ?
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Does provision of section 115BBE apply to income declared during survey for current year only?
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Section 115BBE of Income tax Act, 1961