Excess stock found during survey - search conducted u/s 133A - ...

Excess Stock Found in Survey u/s 133A Taxed as Business Income Due to Direct Business Connection.

May 5, 2022

Case Laws Income Tax AT

Excess stock found during survey - search conducted u/s 133A - the excess stock found during search is nothing but business stock carried on by assessee which is not declared in the books. Since there is a direct nexus with the type of stock found during survey and the business carried on by the assessee, these excess stock in only be treated as chargeable to tax under the head income from business not under the head income from other sources. - AT

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Excess stock found during survey - search conducted u/s 133A - ...

Excess Stock Found in Survey u/s 133A Taxed as Business Income Due to Direct Business Connection.

May 5, 2022

Case Laws Income Tax AT

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