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S. 130 Proceedings under GST Act cannot be initiated against Excess Stock found during Survey: Allahabad HC [Read Order]
In a recent judgement, the Allahabad High Court ruled that proceedings under Section 130 of the Goods and Service Tax (GST) Act cannot be initiated...
![ITAT Deletes AOs Excess Stock Addition based on Misinterpretation of Finished Goods Accounting System and Unsubstantiated Sales Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Excess-stock-arisen-normal-business-income-business-stock-ITAT-TAXSCAN-1536x806-1.jpg "ITAT Deletes AOs Excess Stock Addition based on Misinterpretation of Finished Goods Accounting System and Unsubstantiated Sales Evidence [Read Order]")
![Investment Income from Excess Stock cannot be Taxed u/s 69 B of Income Tax Act, Must be Assessed as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Investment-income-taxation-Business-income-assessment-Excess-stock-taxation-Taxation-of-investment-income-taxscan.jpg "Investment Income from Excess Stock cannot be Taxed u/s 69 B of Income Tax Act, Must be Assessed as Business Income: ITAT [Read Order]")
![Excess Stock could be said to have Arisen out of Normal Activity where Undisclosed Business Income was Ploughed back into Business to Acquire further Stock: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Excess-stock-arisen-normal-business-income-business-stock-ITAT-TAXSCAN.jpg "Excess Stock could be said to have Arisen out of Normal Activity where Undisclosed Business Income was Ploughed back into Business to Acquire further Stock: ITAT deletes Addition [Read Order]")
![Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Section-115BBE-of-Income-Tax-Act-Income-Tax-Act-Surrendered-Income-Surrendered-Income-on-account-of-Excess-Stock-Income-account-of-Excess-Stock-ITAT-taxscan.jpg "Section 115BBE of Income Tax Act not applicable on Surrendered Income on account of Excess Stock found during course of Survey: ITAT [Read Order]")
Confiscation of Excess Stock not permissible in the absence of Physical Stock-taking and Non-disclosure of Stock-taking methodology: CESTAT
The Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal( CESTAT ) has held that confiscation of excess stock is not permissible in the absence of physical stock-taking and...
![Investment in the Excess Stock is Taxable as ‘Business Income’: ITAT Jaipur [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Investment-Taxscan.jpg "Investment in the Excess Stock is Taxable as ‘Business Income’: ITAT Jaipur [Read Order]")