Tribunal Rules Excess Stock as Business Income, Not Unexplained Investment, Reversing Higher Tax Rate Decision.

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....Addition u/s 69B r.w.s.115BBE - during the course of survey action discrepancies were found on account of physical verification of stock vis-a-vis regular books of account - The AO and CIT(A) classified this as unexplained investment, leading to a higher tax rate. However, the Tribunal, after considering the facts and various precedents, concluded that the excess stock was indeed related to the regular business operations and not an unexplained investment. Therefore, it directed the AO to assess the surrendered income as business income and apply the normal tax rate, ultimately allowing the assessee's appeal.....