https://www.taxtmi.com/caselaws?id=781343 ITAT (Bengaluru) reversed CIT(A)'s allowance regarding surrendered excess stock, finding CIT(A) wrongly relied on precedents and ignored survey statements; it upheld additions treating the admitted undisclosed amounts as income (taxable under special provisions) since the assessee/partner could not explain the source. Conversely, on the separate issue under s.69B, ITAT held the recorded purchases and sales before survey reflected regular business activity and the AO erred in treating those amounts as unexplained investment; that part of the appeal was allowed and decided against the revenue. en-us Fri, 31 Oct 2025 00:00:00 +0530 Wed, 12 Nov 2025 18:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781343 ITAT (Bengaluru) reversed CIT(A)'s allowance regarding surrendered excess stock, finding CIT(A) wrongly relied on precedents and ignored survey statements; it upheld additions treating the admitted undisclosed amounts as income (taxable under special provisions) since the assessee/partner could not explain the source. Conversely, on the separate issue under s.69B, ITAT held the recorded purchases and sales before survey reflected regular business activity and the AO erred in treating those amounts as unexplained investment; that part of the appeal was allowed and decided against the revenue. Case-Laws Income Tax Fri, 31 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781343