Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2023 Year 2023 This

Unexplained investment u/s. 69B and levy of tax u/s 115BBE - ...


Excess stock found in tax survey leads to unexplained investment assessment u/s 69B and tax levy u/s 115BBE.

April 29, 2023

Case Laws     Income Tax     AT

Unexplained investment u/s. 69B and levy of tax u/s 115BBE - income towards difference in stock - excess stock found during the course of survey - AO directed to assess additional income offered towards excess stock found during the course of survey under the head profits and gains of business and profession as considered by the assessee. - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

  3. Excess stock found during survey in assessee's business premises led to surrendered income. Assessing Officer accepted return figures but applied higher tax rate u/s...

  4. Additions made u/s 69B - excess stock found during survey - assessee contended that as per the books during the course of survey was without the opening stock - no merit...

  5. Re-determinination of value of opening stock - Addition of excess stock found during the course of survey - Once additions is made towards excess stock found during the...

  6. Excess stock found during the course of survey - Additions u/s. 69B r.w.s. 115BBE - the additional income offered towards excess stock found during the course of survey...

  7. Excess stock found during survey triggers proceedings u/ss 73/74 of the GST Act, not Section 130. The authority noted excess stock by eye estimation without physical...

  8. Excess stock found during survey triggered initiation of proceedings against petitioner. Court held if excess stock found, proceedings u/ss 73/74 of GST Act should be...

  9. Revision u/s 263 - Additions u/s 69 r.w.s. 115BBE - excess stock found during the course of survey as admitted to be the undisclosed business income of the assessee, by...

  10. Treatment to income surrendered during survey on account of excess stock - business income or unexplained stock u/s 69B r.w.s.115BBE - the value of article/stock of the...

  11. Excess stock found during survey at petitioner's business premises triggered initiation of proceedings u/s 130 of GST Act. Court held if excess stock is found,...

  12. ITAT determined that excess stock discovered during survey, though surrendered by assessee, cannot be taxed under Section 69B read with Section 115BBE. The undeclared...

  13. Assessee included excess stock of diamonds found during survey under "Income from Other Sources" and paid normal tax. PCIT held income should be taxed u/s 69B as...

  14. Excess stock found during survey cannot lead to proceedings u/s 130 of UPGST Act against registered dealer. As per HC, in cases of excess stock, tax determination...

  15. Unexplained investment u/s. 69B - excess stock found during the course of survey - taxability at higher rate of tax u/s 115BBE - the same is to be assessed as business...

 

Quick Updates:Latest Updates