Addition of unexplained Investment in stock valuation difference: ITAT deletes addition [Read Order]

The Income Tax tribunal deleted the Addition made under the Income Tax Act

By Yogitha S. Yogesh - On January 21, 2024 9:45 pm - 2 mins read

itat chennai - Investment in Stock - Stock Valuation Difference - ITAT ruling on Stock Valuation Difference - Unexplained Investment in Stock Valuation - taxscan

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of unexplained investments based on the stock valuation difference. The assessee admitted the difference of Rs.1,04,00,600/- as income, which has to be taxed as ‘normal business income’ and not as ‘unexplained investment’ under section 69B of the Income Tax Act,…

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