{"id":14206,"date":"2020-12-06T07:04:52","date_gmt":"2020-12-06T07:04:52","guid":{"rendered":"https:\/\/itatonline.org\/digest\/kanpur-organics-pvt-ltd-v-dy-cit-202078-itr-120-luck-trib\/"},"modified":"2020-12-06T07:04:52","modified_gmt":"2020-12-06T07:04:52","slug":"kanpur-organics-pvt-ltd-v-dy-cit-202078-itr-120-luck-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/kanpur-organics-pvt-ltd-v-dy-cit-202078-itr-120-luck-trib\/","title":{"rendered":"Kanpur Organics Pvt. Ltd. v. Dy. CIT (2020)78 ITR 120 (Luck) (Trib)"},"content":{"rendered":"<p style=\"text-align: justify;background: white;margin: 0cm 0cm 4.9pt 0cm\"><span lang=\"EN-US\" style=\"font-family: 'Verdana',sans-serif\">Tribunal held that the addition under section\u00a069A\u00a0could have been made only if no explanation regarding the source of such income was offered or the explanation offered by the assessee was not satisfactory in the opinion of the Assessing Officer. The assessee had given a complete explanation regarding the source of entries recorded in the diary, which were explained to be part of unrecorded sales and the Assessing Officer also did not object to the explanation. Therefore, the addition could not be made under section\u00a069A\u00a0and if the addition could not be made under section\u00a069A\u00a0, the provisions of section\u00a0115BBE\u00a0were not be applicable. Thus the addition sustained by the Commissioner (Appeals) under section\u00a0115BBE\u00a0was not in accordance with law and the surrendered income had rightly been included in the sales of the assessee and all the expenses had rightly been set off against the surrendered income. Therefore, this sum being business income, the assessee was also eligible for deduction under section\u00a080JJA\u00a0(<span style=\"background: white\">AY.2016-17<\/span>)<\/span><\/p>\n<p style=\"text-align: justify;background: white;margin: 0cm 0cm 4.9pt 0cm\"><b><span lang=\"EN-US\" style=\"font-family: 'Verdana',sans-serif\">\u00a0<\/span><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.115BBE: Tax on income- Unexplained money \u2014Part of  unrecorded sales Addition Cannot be  made- Surrendered income \u2013 Business income  -Eligible deduction under section 80JJA .  [ S.69A, 80JJA  ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14206","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3H8","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14206"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14206\/revisions"}],"predecessor-version":[{"id":14207,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14206\/revisions\/14207"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}