Search Results For: Unexplained investments -Excess stock found – Whether taxable


QUERY: Whether Assessing Officer is justified in treating excess stock found as undisclosed investment under section 69 of the Act?
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As per the Bombay High Court in Ramanlal Kacharulal Tejmal [146 ITR 368] excess stock found represents investment of the assessee in property and therefore same can be assessed under section 69 of the Act.