Unrecorded stock of rice noticed during survey is Business Income

Pr. CIT Vs Bajargan Traders C/o. Kalani & Co. (Rajasthan High Court)

Whether the amount surrendered by way of investment in the unrecorded stock of rice has to be brought to tax under the head ‘business income’ or ‘income from other sources‘. In the present case, the assessee is dealing in sale of foodgrains, rice and oil seeds, and the

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