https://www.taxtmi.com/caselaws?id=417407 The Tribunal upheld the decision to treat the excess stock and cash as business income, rejecting the Revenue's argument that it should be considered income from undisclosed sources. Section 115BBE of the Income Tax Act was deemed inapplicable due to the retrospective nature of the relevant amendment. The appeals by the Revenue were dismissed, affirming the CIT(A)'s findings for both parties involved. en-us Thu, 30 Sep 2021 00:00:00 +0530 Sat, 22 Jan 2022 08:48:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417407 The Tribunal upheld the decision to treat the excess stock and cash as business income, rejecting the Revenue's argument that it should be considered income from undisclosed sources. Section 115BBE of the Income Tax Act was deemed inapplicable due to the retrospective nature of the relevant amendment. The appeals by the Revenue were dismissed, affirming the CIT(A)'s findings for both parties involved. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417407