Hi,
survey has been conducted on Partnership firm by department 3 years ago and consequently disclosed income of 80,00,000/-. the case is still pending for scrutiny. The A.O. wants to consider the disclosed income as Income from other sources rather than to consider it as Business Income. As far as, i concern, the same should be treated as business income as the disclosed income consisted of unaccounted stock, excess cash received and unaccounted furniture only. So, please, help me out, in which head it is proper to disclose the above disclosed income. its very urgent
CAclubindia
