Additional Income declared in Survey considered as Business Income not Charged u/s 68, 69A: ITAT

The ITAT ruled that additional income disclosed during a survey should be treated as business income, not subject to section 68 or 69A. In this case, a taxpayer voluntarily disclosed additional income during a tax survey. The tribunal ruled that such income, when voluntarily declared, should be considered business income and not treated as unexplained income under the Income Tax Act. This clarification is important for taxpayers who may disclose additional income during surveys, ensuring it is classified correctly for tax purposes.