Answers On Topic: excess stock
  In the business premises of A, survey took place, where-in excess stock was found for ` 15 lakh. In the statement recorded during the course of survey the assessee stated that excess stock is due to adjustment of profit by valuation of stock in earlier years and offered for tax in the current year.
Query:- (i)    Can the surrender of stock be treated as undisclosed u/s 69 of the Act? (ii)   Application of section 115 BBE is correct in law or it can be treated as business income taxable at normal rate? (iii)  Is it possible to apply 115BBE by passing 154 order when section 69 is not applied?


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