Addition u/s 69C - When the excess stocks were found during the ...

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

May 25, 2019

Case Laws Income Tax HC

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

View Source

← Previous Next →

Addition u/s 69C - When the excess stocks were found during the ...

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

May 25, 2019

Case Laws Income Tax HC

You may also like:

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...

Addition u/s. 69A - income surrendered during survey - undisclosed business income or income from other sources - What has been found during survey is excess stock of...

Excess cash and stock found during survey proceedings were treated as income from undisclosed sources, liable for taxation u/s 115BBE. The Assessing Officer (AO) ordered...

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...

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...

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...

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...

Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

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...

ITAT adjudicated a tax dispute involving undisclosed income and stock valuation. The tribunal rejected the tax authority's attempt to treat stock purchases as...

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,...

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...

Higher rate of tax u/s 115BBE - As noted that the assessee has declared additional income towards excess stock found during the course of survey and assessee has...

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...

The High Court quashed the orders initiating proceedings u/s 130 of the GST Act against the petitioner for excess stock found during inspection/search u/s 67. It held...

Quick Updates: