https://www.taxtmi.com/caselaws?id=773283 ITAT Pune held that excess stock found during survey should be taxed as business income at normal rates rather than under section 69 with section 115BBE, following precedent in Yash Construction Co. The tribunal granted telescoping benefit for suppressed gross profit additions. For unsecured loans under section 68, the matter was remanded to AO to provide assessee final opportunity to prove creditor identity, creditworthiness and transaction genuineness. Similarly, addition for capital increase was remanded for assessee to furnish complete details to AO. en-us Thu, 12 Jun 2025 00:00:00 +0530 Mon, 16 Jun 2025 11:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773283 ITAT Pune held that excess stock found during survey should be taxed as business income at normal rates rather than under section 69 with section 115BBE, following precedent in Yash Construction Co. The tribunal granted telescoping benefit for suppressed gross profit additions. For unsecured loans under section 68, the matter was remanded to AO to provide assessee final opportunity to prove creditor identity, creditworthiness and transaction genuineness. Similarly, addition for capital increase was remanded for assessee to furnish complete details to AO. Case-Laws Income Tax Thu, 12 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773283