Assessee could not Recall Details of Income within Specified time due to Old Age: ITAT Quashes Addition u/s 115BBE [Read Order]

By Sunayana Dhal - On October 4, 2023 7:30 pm - 2 mins read

Assessee - Recall - Assessee could not Recall Details of Income - Income - Old Age - ITAT - taxscan

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) quashed the addition under Section 115BBE of the Income Tax Act, 1961 which states the procedure for determination of tax for unexplained Investment/Expenditure, as the assessee could not recall the details of income within the specified time due to old age. The assessee is aged…

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Topics

Assessing Officer Commissioner of Income Tax (Appeals)Income ITAT Hyderabad Section 115BBE of Income Tax Act