https://www.taxtmi.com/caselaws?id=773875 ITAT Pune held that additional income offered by assessee during survey u/s 133A on account of unexplained stock should be taxed as business income at normal rates rather than under sections 69/69C read with section 115BBE. The tribunal found that since the assessee's sole source of income was retail shoe trading with no other business activities discovered during survey, the excess stock constituted normal business income. Following precedent from Bajargan Traders case, ITAT dismissed Revenue's appeal and upheld CIT(A)/NFAC order directing taxation at normal rates instead of higher rates under section 115BBE. en-us Thu, 22 May 2025 00:00:00 +0530 Thu, 26 Jun 2025 12:25:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773875 ITAT Pune held that additional income offered by assessee during survey u/s 133A on account of unexplained stock should be taxed as business income at normal rates rather than under sections 69/69C read with section 115BBE. The tribunal found that since the assessee's sole source of income was retail shoe trading with no other business activities discovered during survey, the excess stock constituted normal business income. Following precedent from Bajargan Traders case, ITAT dismissed Revenue's appeal and upheld CIT(A)/NFAC order directing taxation at normal rates instead of higher rates under section 115BBE. Case-Laws Income Tax Thu, 22 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773875