https://www.taxtmi.com/caselaws?id=259563 Income that truly belonged to the assessee company could be taxed in its hands even though it had already been assessed in the hands of the export firm. The Court held that prior assessment in another person's hands does not bar taxation of the true owner where the amount was concealed and routed through the firm. The principle against double taxation did not apply on these facts because the export firm's assessment did not extinguish the company's liability for its own income. The reference was answered in favour of the Revenue and the addition was upheld. en-us Fri, 08 May 2015 00:00:00 +0530 Thu, 14 May 2015 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259563 Income that truly belonged to the assessee company could be taxed in its hands even though it had already been assessed in the hands of the export firm. The Court held that prior assessment in another person's hands does not bar taxation of the true owner where the amount was concealed and routed through the firm. The principle against double taxation did not apply on these facts because the export firm's assessment did not extinguish the company's liability for its own income. The reference was answered in favour of the Revenue and the addition was upheld. Case-Laws Income Tax Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259563