{"id":38354,"date":"2024-01-13T15:39:19","date_gmt":"2024-01-13T10:09:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=38354"},"modified":"2024-01-13T15:39:19","modified_gmt":"2024-01-13T10:09:19","slug":"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","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/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\/","title":{"rendered":"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."},"content":{"rendered":"<p>Query:-<\/p>\n<p>(i)\u00a0\u00a0\u00a0 Can the surrender of stock be treated as undisclosed u\/s 69 of the Act?<\/p>\n<p>(ii)\u00a0\u00a0 Application of section 115 BBE is correct in law or it can be treated as business income taxable at normal rate?<\/p>\n<p>(iii)\u00a0 Is it possible to apply 115BBE by passing 154 order when section 69 is not applied?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1120,1121],"qa_category":[23],"qa_tag":[1122,1123,445],"class_list":["post-38354","qa","type-qa","status-publish","hentry","qa_expert-mr-ganesh-purohit","qa_expert-sr-advocate","qa_category-income-tax","qa_tag-excess-stock","qa_tag-s-133a","qa_tag-survey"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/38354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38354"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38354"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=38354"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=38354"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=38354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}