https://www.taxtmi.com/caselaws?id=272229 The Tribunal allowed the appeal of the assessee and dismissed that of the Revenue. The Tribunal found that the additions made by the AO were based on retracted statements without corroborative evidence, and the principles of Natural Justice were violated. The Tribunal also noted that taxing the same income in the hands of both the assessee and the sub-agent companies would result in double taxation, which is impermissible. The Tribunal set aside the impugned additions and upheld the CIT(A)'s decision to exclude the income earned by Airtrac from the block assessment. en-us Fri, 22 Jan 2016 00:00:00 +0530 Wed, 02 Mar 2016 08:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272229 The Tribunal allowed the appeal of the assessee and dismissed that of the Revenue. The Tribunal found that the additions made by the AO were based on retracted statements without corroborative evidence, and the principles of Natural Justice were violated. The Tribunal also noted that taxing the same income in the hands of both the assessee and the sub-agent companies would result in double taxation, which is impermissible. The Tribunal set aside the impugned additions and upheld the CIT(A)'s decision to exclude the income earned by Airtrac from the block assessment. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272229