Unrecorded Stock Surrendered Taxable as Business Income, Not Other Sources

Vijay Shriram Gundale Vs ACIT (ITAT Pune)

Introduction: The Income Tax Appellate Tribunal (ITAT) Pune recently delivered a significant judgment in the case of Vijay Shriram Gundale vs. ACIT. The appeal contested the tax treatment of excess stock discovered during a survey, challenging the Commissioner of Income Tax Appeals’ decision for the assessment year 2019-20.

Detailed Analysis: The crux of the matter revolves around the treatment of Rs. 37,00,0

Please become a Premium member. If you are already a Premium member, login here to access the full content.