https://www.taxtmi.com/caselaws?id=462732 ITAT Indore allowed the assessee's appeal regarding excess stock found during survey under Section 115BBE. The tribunal held that surrendered income from excess stock should be treated as business income rather than unexplained investment under Section 69. The AO and CIT(A) erred in applying Section 115BBE provisions as the stock was found at business premises, related to ongoing business operations, and was calculated on estimated basis without concrete evidence. The tribunal directed taxation under normal IT Act provisions instead of the higher Section 115BBE rates. en-us Fri, 09 Aug 2024 00:00:00 +0530 Fri, 11 Jul 2025 20:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462732 ITAT Indore allowed the assessee's appeal regarding excess stock found during survey under Section 115BBE. The tribunal held that surrendered income from excess stock should be treated as business income rather than unexplained investment under Section 69. The AO and CIT(A) erred in applying Section 115BBE provisions as the stock was found at business premises, related to ongoing business operations, and was calculated on estimated basis without concrete evidence. The tribunal directed taxation under normal IT Act provisions instead of the higher Section 115BBE rates. Case-Laws Income Tax Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462732