https://www.taxtmi.com/caselaws?id=463883 ITAT, Pune (AT) allowed the assessee's appeal, holding that amounts surrendered during survey as excess stock and excess cash constitute business income rather than income from other sources. The tribunal followed the HC view that investment in unrecorded/excess stock is identifiable and related to regular business operations, and therefore should be taxed under business income. Consequently the CIT(A) was unjustified in confirming the AO's exclusion and invoking s.69, s.69A and charging under s.115BBE; the surrendered amounts were properly offered and taxable as business income. en-us Mon, 03 Jul 2023 00:00:00 +0530 Sat, 20 Sep 2025 15:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463883 ITAT, Pune (AT) allowed the assessee's appeal, holding that amounts surrendered during survey as excess stock and excess cash constitute business income rather than income from other sources. The tribunal followed the HC view that investment in unrecorded/excess stock is identifiable and related to regular business operations, and therefore should be taxed under business income. Consequently the CIT(A) was unjustified in confirming the AO's exclusion and invoking s.69, s.69A and charging under s.115BBE; the surrendered amounts were properly offered and taxable as business income. Case-Laws Income Tax Mon, 03 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463883