Addition u/s. 69A - income surrendered during survey - ...
Income Tax
November 28, 2023
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 the business of the assessee. The assesses case, in fact, we find on a better footing since the assessee has disclosed investment made by way of purchases for the excess stock not only in its business books of accounts but also in the VAT return filed to the VAT authorities. - CIT(A) has rightly treated the same as being derived from the undisclosed business income - AT
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