https://www.taxtmi.com/caselaws?id=440813 The Tribunal ruled in favor of the assessee regarding the treatment of excess stock, holding it should be treated as business income and not deemed income under Section 69/69B. However, the Tribunal upheld the lower authorities' decision to treat excess cash as deemed income under Section 69A, subject to a higher tax rate under Section 115BBE. The appeal was partly allowed, with the Tribunal setting aside the orders of the lower authorities on the excess stock issue but affirming the treatment of excess cash as unexplained money. en-us Mon, 17 Jul 2023 00:00:00 +0530 Thu, 27 Jul 2023 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440813 The Tribunal ruled in favor of the assessee regarding the treatment of excess stock, holding it should be treated as business income and not deemed income under Section 69/69B. However, the Tribunal upheld the lower authorities' decision to treat excess cash as deemed income under Section 69A, subject to a higher tax rate under Section 115BBE. The appeal was partly allowed, with the Tribunal setting aside the orders of the lower authorities on the excess stock issue but affirming the treatment of excess cash as unexplained money. Case-Laws Income Tax Mon, 17 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440813