๐ˆ๐ง๐œ๐จ๐ฆ๐ž ๐จ๐Ÿ๐Ÿ๐ž๐ซ๐ž๐ ๐ญ๐จ ๐ญ๐š๐ฑ ๐ฌ๐ฎ๐ซ๐ซ๐ž๐ง๐๐ž๐ซ๐ž๐ ๐๐ฎ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐ž๐š๐ซ๐œ๐ก & ๐ฌ๐ž๐ข๐ณ๐ฎ๐ซ๐ž ๐จ๐ฉ๐ž๐ซ๐š๐ญ๐ข๐จ๐ง ๐›๐ฒ ๐ž๐ฑ๐ฉ๐ฅ๐š๐ข๐ง๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐จ๐ฎ๐ซ๐œ๐ž ๐จ๐Ÿ ๐ข๐ง๐œ๐จ๐ฆ๐ž ๐œ๐š๐ง๐ง๐จ๐ญ ๐›๐ž ๐ฌ๐ฎ๐›๐ฃ๐ž๐œ๐ญ ๐ญ๐จ ๐ฌ๐ฉ๐ž๐œ๐ข๐š๐ฅ ๐ซ๐š๐ญ๏ฟฝ๏ฟฝ ๐จ๐Ÿ ๐ญ๐š๐ฑ ๐ฎ๐ง๐๐ž๐ซ ๐ฌ๐ž๐œ๐ญ๐ข๐จ๐ง 115๐๐๐„ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ˆ๐ง๐œ๐จ๐ฆ๐ž-๐ญ๐š๐ฑ ๐€๐œ๐ญ

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๐ˆ๐ง๐œ๐จ๐ฆ๐žย ๐จ๐Ÿ๐Ÿ๐ž๐ซ๐ž๐ย ๐ญ๐จย ๐ญ๐š๐ฑย ๐ฌ๐ฎ๐ซ๐ซ๐ž๐ง๐๐ž๐ซ๐ž๐ย ๐๐ฎ๐ซ๐ข๐ง๐ ย ๐ญ๐ก๐žย ๐ฌ๐ž๐š๐ซ๐œ๐กย &ย ๐ฌ๐ž๐ข๐ณ๐ฎ๐ซ๐žย ๐จ๐ฉ๐ž๐ซ๐š๐ญ๐ข๐จ๐งย ๐›๐ฒย ๐ž๐ฑ๐ฉ๐ฅ๐š๐ข๐ง๐ข๐ง๐ ย ๐ญ๐ก๐žย ๐ฌ๐จ๐ฎ๐ซ๐œ๐žย ๐จ๐Ÿย ๐ข๐ง๐œ๐จ๐ฆ๐žย ๐œ๐š๐ง๐ง๐จ๐ญย ๐›๐žย ๐ฌ๐ฎ๐›๐ฃ๐ž๐œ๐ญย ๐ญ๐จย ๐ฌ๐ฉ๐ž๐œ๐ข๐š๐ฅย ๐ซ๐š๐ญ๏ฟฝ๏ฟฝย ๐จ๐Ÿย ๐ญ๐š๐ฑย ๐ฎ๐ง๐๐ž๐ซย ๐ฌ๐ž๐œ๐ญ๐ข๐จ๐งย 115๐๐๐„ย ๐จ๐Ÿย ๐ญ๐ก๐žย ๐ˆ๐ง๐œ๐จ๐ฆ๐ž-๐ญ๐š๐ฑย ๐€๐œ๐ญ

 

In the case of DCIT, Ghaziabad v/s Tapesh Tyagi [ITA No. 1344 / Del / 2021], Delhi Tribunal held that income surrendered during search & seizure and offered to tax by explaining the source of income by the assessee cannot be subject to special rate of tax under section 115BBE of the Income-tax Act in respect of unexplained money [section 69A].

ย Further, such income is taxed under normal rate of tax. Therefore, dismissed the appeal filed by the Tax Authorities.

Further, the lower authorities had also not doubted or disputed the source of income at the time of search & seizure operation or even during the assessment proceedings and the assessing officer has not made any separate addition under Section 69A of the Act. He has merely re-characterized the nature of income offered by the assessee.

The case details is as under:

DCIT, Ghaziabad

v/s

Tapesh Tyagi

[ITA No. 1344 / Del / 2021]

 

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