https://www.taxtmi.com/caselaws?id=441546 ITAT Chandigarh held for the assessee that income surrendered during a survey u/s 133A must be characterized on facts and explained by the assessee before invoking deeming provisions u/s 69/69A; mere survey does not automatically attract those deeming provisions. The unexplained excess stock and advances were held to be part of business receipts, not independent undisclosed assets, and therefore taxable as business income. As deeming provisions were inapplicable, s.115BBE did not apply. Decision in favour of the assessee. en-us Mon, 24 Jul 2023 00:00:00 +0530 Mon, 27 Oct 2025 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441546 ITAT Chandigarh held for the assessee that income surrendered during a survey u/s 133A must be characterized on facts and explained by the assessee before invoking deeming provisions u/s 69/69A; mere survey does not automatically attract those deeming provisions. The unexplained excess stock and advances were held to be part of business receipts, not independent undisclosed assets, and therefore taxable as business income. As deeming provisions were inapplicable, s.115BBE did not apply. Decision in favour of the assessee. Case-Laws Income Tax Mon, 24 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441546