https://www.taxtmi.com/caselaws?id=220891 The Court upheld the Tribunal's decision regarding the protective assessment of the assessees, ruling that only the profit from receipts, not the entire amount, should be taxed. The Court dismissed the appeals, stating that the pending assessment of another entity did not affect the assessment of the assessees. The assessees were considered name lenders and were deemed to have offered 8% of their income, which was deemed sufficient for taxation purposes. en-us Tue, 05 Feb 2013 00:00:00 +0530 Thu, 31 Mar 2016 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220891 The Court upheld the Tribunal's decision regarding the protective assessment of the assessees, ruling that only the profit from receipts, not the entire amount, should be taxed. The Court dismissed the appeals, stating that the pending assessment of another entity did not affect the assessment of the assessees. The assessees were considered name lenders and were deemed to have offered 8% of their income, which was deemed sufficient for taxation purposes. Case-Laws Income Tax Tue, 05 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220891