Income surrendered by way of Account Receivables Not Taxable under Deeming Provisions of 69 r/w S. 115BBE: ITAT [Read Order]

Income - Account Receivables - Deeming Provisions - Income Tax - ITAT - taxscan

The Chandigarh bench of Income Tax Appellate Tribunal (ITAT)has recently held that income surrendered by way of account receivable was not taxable under deeming provisions of Section 69 read with Section 115BBE of Income Tax Act 1961. Section 115BBE of Income Tax Act 1961 deals with taxation of the income mentioned in section 68,69,69A,69B,69C ,…

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