Surrendered Amount Recorded in Audited Books Cannot Be Retrospectively Taxed Under Section 115BBE as Unexplained Investment
Surrendered Amount Recorded in Audited Books Cannot Be Retrospectively Taxed Under Section 115BBE as Unexplained Investment Issue Whether the Assessing Officer (AO) was justified in treating a surrendered amount of ₹25 lakhs (allocated for hospital building construction) as an “unexplained investment” under Section 69 and taxing it at the higher retrospective rate of 60% under… Read More »