SRI UMA MAHESHWARA RAO CHINNI,GUNTUR vs. ASST COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, KOZHIKODE
In the result, the instant appeals by the assesses are dismissed
ITA 895/COCH/2022[2017-18]Status: DisposedITAT Cochin15 Apr 2024AY 2017-18
Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)
For Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 115BSection 132ASection 143(3)Section 147Section 148Section 153ASection 69A
68 to 69D.
4.9 The provisions of 115BBE taxing certain types of income @ 60% were brought on statute by Finance Act, 2017 after demonization, after introduction of prevention of Black
Money (Undisclosed foreign income & assets) Act; Prohibition of Benami Property
Transactions Act, etc., with a view to curb the mischief of subsequently disclosing the undisclosed cash/entries/assets of earlier years
