https://www.taxtmi.com/caselaws?id=446208 The Tribunal allowed the appeal, ruling that the excess stock amounting to Rs. 18,85,319 should be treated as business income rather than unexplained stock under section 69B of the Income Tax Act. Consequently, the Tribunal deleted the addition made by the CIT(A), which had upheld the taxation under section 69B read with section 115BBE. The Tribunal's decision emphasized the distinction between business income and deemed income, aligning with the appellant's argument that the excess stock was part of regular business activities. en-us Tue, 12 Sep 2023 00:00:00 +0530 Mon, 27 Nov 2023 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446208 The Tribunal allowed the appeal, ruling that the excess stock amounting to Rs. 18,85,319 should be treated as business income rather than unexplained stock under section 69B of the Income Tax Act. Consequently, the Tribunal deleted the addition made by the CIT(A), which had upheld the taxation under section 69B read with section 115BBE. The Tribunal's decision emphasized the distinction between business income and deemed income, aligning with the appellant's argument that the excess stock was part of regular business activities. Case-Laws Income Tax Tue, 12 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446208