Tuesday 25 February 2014

Seized amount already disclosed in sec. 139 return can't be added back to income during block assess

IT : Where prior to initiation of block assessment proceedings, assessee filed his return under section 139 wherein amount seized from him had already been disclosed, in view of provisions of clause (b) of sub-section (1) of section 158BB, amount so disclosed could not be added to assesse's undisclosed income while completing block assessment


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