https://www.taxtmi.com/caselaws?id=464299 ITAT, Chandigarh held that cash and stock surrendered during survey were attributable to business income, not unexplained income, because the assessee satisfactorily explained their nature and source during survey and documentary nexus with business existed. Consequently sections 69/69A deeming provisions and section 115BBE were held inapplicable; the AO was directed to assess the surrendered amounts under "Income from Business/Profession" at normal tax rates. Decision in favour of the assessee. en-us Wed, 22 Nov 2023 00:00:00 +0530 Thu, 16 Oct 2025 12:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464299 ITAT, Chandigarh held that cash and stock surrendered during survey were attributable to business income, not unexplained income, because the assessee satisfactorily explained their nature and source during survey and documentary nexus with business existed. Consequently sections 69/69A deeming provisions and section 115BBE were held inapplicable; the AO was directed to assess the surrendered amounts under "Income from Business/Profession" at normal tax rates. Decision in favour of the assessee. Case-Laws Income Tax Wed, 22 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464299