Amount surrendered under unrecorded stock taxable as business income

Ashok K. Kriplani Vs CIT (ITAT Pune)

ITAT Pune held that that the amount surrendered under unrecorded stock has to be brought to tax under the head “business income” and no provision u/s. 115BBE of the Income Tax Act is attracted.

Facts- The assessee is an individual and conducts its business as proprietor of M/s. Mohan Dry Fruit. A survey was conducted on 04-10-2017 in the business premises of M/s. Mohan Dry Fruit u/s. 133A of the Act. The assessee filed return of inc

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