https://www.taxtmi.com/caselaws?id=421954 The tribunal allowed the appeal filed by the assessee. On the issue of unexplained investment under Section 69, the tribunal observed that the excess stock found during the survey was business stock and should be taxed as business income, allowing the assessee's claim. Regarding the taxation of disclosure of stock, the tribunal upheld that the profit determined by the assessee under business income was appropriate, and the AO could not deny the remuneration to partners under Section 40(b). The tribunal's decision favored the assessee, allowing grounds raised concerning the assessment of stock and remuneration. en-us Mon, 04 Apr 2022 00:00:00 +0530 Tue, 02 Jan 2024 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421954 The tribunal allowed the appeal filed by the assessee. On the issue of unexplained investment under Section 69, the tribunal observed that the excess stock found during the survey was business stock and should be taxed as business income, allowing the assessee's claim. Regarding the taxation of disclosure of stock, the tribunal upheld that the profit determined by the assessee under business income was appropriate, and the AO could not deny the remuneration to partners under Section 40(b). The tribunal's decision favored the assessee, allowing grounds raised concerning the assessment of stock and remuneration. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421954