https://www.taxtmi.com/caselaws?id=465681 The dominant issue was whether undisclosed cash and unaccounted/excess stock detected during search, and offered as additional income, should be assessed as business income or as unexplained money/investment under s. 69A attracting the special rate under s. 115BBE. Applying the principle adopted in prior ITAT authority that such cash and stock arising from business operations form part of business receipts/inventory rather than independent unexplained assets, the Tribunal held they are taxable under the head "profits and gains of business or profession" and not under s. 69A. Consequently, taxation at s. 115BBE rates was rejected and relief was granted to the assessee. en-us Mon, 16 Dec 2024 00:00:00 +0530 Mon, 05 Jan 2026 20:18:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465681 The dominant issue was whether undisclosed cash and unaccounted/excess stock detected during search, and offered as additional income, should be assessed as business income or as unexplained money/investment under s. 69A attracting the special rate under s. 115BBE. Applying the principle adopted in prior ITAT authority that such cash and stock arising from business operations form part of business receipts/inventory rather than independent unexplained assets, the Tribunal held they are taxable under the head "profits and gains of business or profession" and not under s. 69A. Consequently, taxation at s. 115BBE rates was rejected and relief was granted to the assessee. Case-Laws Income Tax Mon, 16 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465681