{"id":62403,"date":"2026-07-21T17:29:43","date_gmt":"2026-07-21T11:59:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/amarjit-and-sons-v-dy-cit-2025-121-itr-130-chd-trib\/"},"modified":"2026-07-21T17:29:43","modified_gmt":"2026-07-21T11:59:43","slug":"amarjit-and-sons-v-dy-cit-2025-121-itr-130-chd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/amarjit-and-sons-v-dy-cit-2025-121-itr-130-chd-trib\/","title":{"rendered":"Amarjit and Sons v. Dy. CIT (2025) 121 ITR 130 (Chd.)(Trib.)"},"content":{"rendered":"<p>During a survey, excess stock was found and surrendered by the assessee as business income. The Assessing Officer treated the value of excess stock as an unexplained investment under section 69B and taxed it under section 115BBE. The Tribunal held that the excess stock formed part of the regular trading stock and had no independent identity separate from the disclosed stock. Since it represented business receipts and not any unexplained investment in a separate asset, section 69B had no application. The surrendered amount was therefore assessable as business income, and the provisions of section 115BBE were not attracted. (AY. 2019-20)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69B: Amounts of investments not fully disclosed in books of account \u2013Survey-Excess stock-Regular business stock-Taxable as business income-Section 69B not applicable. [S. 28(i), 115BBE, 133A]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62403","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gev","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=62403"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62403\/revisions"}],"predecessor-version":[{"id":62404,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62403\/revisions\/62404"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}