Excess Stock and Excess Cash found during  Survey Proceedings are recorded in  Books of Account: ITAT Upholds surrendered income as Business Income [Read Order]

Excess Stock - Excess Cash found during - Survey Proceedings are recorded in Books of Account - ITAT Upholds surrendered income as - Business Income -

The Income Tax Appellate Tribunal (ITAT) Pune Bench while upholding the business income which surrendered after the survey proceeding and observed that excess stock and excess cash found during survey proceedings are recorder in books of account. Ashok K. Kriplani, the taxpayer is proprietor of M/s. Mohan Dry Fruit. A survey was conducted  in the…

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