WebInsertion of new section 115BBE. 47. After section 115BBD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:— … WebNow the assessing authority treats the excess stock declaration as investment u/s 69B as an unexplained investment and adopts tax rate as per section 115BBE. The A.Y. is 2024 …
Insertion of new section 115BBE - incometaxindia.gov.in
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Web9 Dec 2024 · The provisions of section 115BBE being anti-abuse provision, are therefore required to be interpreted and applied strictly by following the Hayden’s Rule of Mischief … Web27 Apr 2024 · LinkedIn. A New section namely section 115BBE was inserted in the Income Tax Act with effect from the 1st day of April, 2013, with a view to tax the unexplained cash … WebADVANCED ACCOUNTING 1 – Chapter 9 and 10 James Cantorne Consignment Sales Problem 1. 1. True 2. False Consigned goods are not included in consignee’s inventory. 3. False Freight cost of transferring consigned goods to the consignee is capitalized to the cost of inventory consigned 4. True 5. True Problem 2. 1. A. Inventory risk: Consignor, … potter ford chesham