Excess Stock Found in Survey Deemed 'Undisclosed Income' u/s 69C of Income Tax Act, Subject to Taxation.

Addition u/s 69C - When the excess stocks were found during the Survey, there is no question of allowing the Assessee to record any additional purchases because such purchases had already been recorded in the books of accounts - the excess stock, per se, has to be naturally brought to tax as 'undisclosed income' by itself .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X