https://www.taxtmi.com/caselaws?id=768044 ITAT Pune held that excess stock discovered during survey constituted business income rather than income from other sources. The tribunal found that lower authorities erred in treating the excess stock as unexplained income under section 68 and invoking section 115BBE. Since the assessee firm had no other income source and properly disclosed the excess stock as business income in audited statements, section 115BBE was inapplicable. The tribunal consistently ruled that unexplained income from business sources cannot invoke section 115BBE. The appeal was allowed, setting aside lower authorities' findings. en-us Thu, 27 Mar 2025 00:00:00 +0530 Sat, 29 Mar 2025 08:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768044 ITAT Pune held that excess stock discovered during survey constituted business income rather than income from other sources. The tribunal found that lower authorities erred in treating the excess stock as unexplained income under section 68 and invoking section 115BBE. Since the assessee firm had no other income source and properly disclosed the excess stock as business income in audited statements, section 115BBE was inapplicable. The tribunal consistently ruled that unexplained income from business sources cannot invoke section 115BBE. The appeal was allowed, setting aside lower authorities' findings. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768044