https://www.taxtmi.com/caselaws?id=434083 The appeals were filed against the order of the CIT(A) regarding the addition made under section 69B of the Income Tax Act for the assessment year 2018-19. The assessee, a dealer of gold and silver articles, declared a difference in stock value during a survey. The assessing officer confirmed the addition under section 69B and levied tax under section 115BBE. The tribunal held that the undisclosed stock was part of the business income, rejecting the tax under section 115BBE. Consequently, both appeals were allowed in favor of the assessee, setting aside the tax assessment under section 115BBE. en-us Tue, 24 Jan 2023 00:00:00 +0530 Thu, 16 Feb 2023 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434083 The appeals were filed against the order of the CIT(A) regarding the addition made under section 69B of the Income Tax Act for the assessment year 2018-19. The assessee, a dealer of gold and silver articles, declared a difference in stock value during a survey. The assessing officer confirmed the addition under section 69B and levied tax under section 115BBE. The tribunal held that the undisclosed stock was part of the business income, rejecting the tax under section 115BBE. Consequently, both appeals were allowed in favor of the assessee, setting aside the tax assessment under section 115BBE. Case-Laws Income Tax Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434083