https://www.taxtmi.com/caselaws?id=465642 Whether excess stock detected during survey under s.133A and admitted in the return is assessable as unexplained investment under ss.69/69B or as business income was the dominant issue. The Tribunal held that such excess stock could not be brought to tax under s.69 because it formed part of the taxpayer's regular trading stock, and the AO adduced no material to establish any nexus with non-business receipts or that the stock was outside the regular business. Consequently, the addition under ss.69/69B was rejected, the CIT(A)'s treatment of the disclosure as normal business income was affirmed, and the Revenue's appeal was dismissed. en-us Tue, 01 Aug 2023 00:00:00 +0530 Sat, 03 Jan 2026 15:56:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465642 Whether excess stock detected during survey under s.133A and admitted in the return is assessable as unexplained investment under ss.69/69B or as business income was the dominant issue. The Tribunal held that such excess stock could not be brought to tax under s.69 because it formed part of the taxpayer's regular trading stock, and the AO adduced no material to establish any nexus with non-business receipts or that the stock was outside the regular business. Consequently, the addition under ss.69/69B was rejected, the CIT(A)'s treatment of the disclosure as normal business income was affirmed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 01 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465642