https://www.taxtmi.com/caselaws?id=462750 ITAT Pune held that excess stock discovered during survey constituted business income rather than income from other sources. The assessee explained that excess stock resulted from mixed inventory across 11 business locations. The tribunal found the assessee adequately explained the source of excess stock as arising from business operations. Lower authorities erred in treating it as income from other sources under Section 115BBE. Following precedent from Kolhapur Timber case, the tribunal ruled excess stock should be taxed as regular business income. Assessee's appeal was allowed. en-us Fri, 25 Apr 2025 00:00:00 +0530 Sat, 12 Jul 2025 23:06:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462750 ITAT Pune held that excess stock discovered during survey constituted business income rather than income from other sources. The assessee explained that excess stock resulted from mixed inventory across 11 business locations. The tribunal found the assessee adequately explained the source of excess stock as arising from business operations. Lower authorities erred in treating it as income from other sources under Section 115BBE. Following precedent from Kolhapur Timber case, the tribunal ruled excess stock should be taxed as regular business income. Assessee's appeal was allowed. Case-Laws Income Tax Fri, 25 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462750