https://www.taxtmi.com/caselaws?id=67678 The Tribunal ruled that the income earned by firm R.F.C. should not be added to the assessee's income for the assessment year 1973-74. It found that there was no conclusive evidence of R.F.C. belonging to the assessee, emphasizing the independence of the two firms based on separate investments, operations, and lack of intermingling funds. The Tribunal held that the Appellate Authority Commissioner erred in taxing R.F.C.'s income in the assessee's hands, ultimately ruling in favor of the assessee and allowing the appeal in part on this issue. en-us Sat, 20 Aug 1977 00:00:00 +0530 Sat, 12 Mar 2011 13:16:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67678 The Tribunal ruled that the income earned by firm R.F.C. should not be added to the assessee's income for the assessment year 1973-74. It found that there was no conclusive evidence of R.F.C. belonging to the assessee, emphasizing the independence of the two firms based on separate investments, operations, and lack of intermingling funds. The Tribunal held that the Appellate Authority Commissioner erred in taxing R.F.C.'s income in the assessee's hands, ultimately ruling in favor of the assessee and allowing the appeal in part on this issue. Case-Laws Income Tax Sat, 20 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67678