SHRI.P.V. RAVEENDRAN,KANNUR vs. THE ITO, KANNUR

In the result, both the appeals filed by the assessee stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

68 / 69 of the IT Act, 1961 4. Without prejudice to the above there is no justification to assess the income from business declared by the appellant invoking section 115BBE of the IT Act, 1961. 5. The learned Principal Commissioner of Income Tax ought to have found that the income declared pursuant .to survey conducted in the appellant