https://www.taxtmi.com/caselaws?id=327562 The Appellate Tribunal upheld the assessment of income amounting to Rs. 97,35,04,000 in the hands of Air India as an agent, reversing the CIT(A)'s decision. The Tribunal emphasized that once the income is taxed in one party's hands, it cannot be taxed again in the other's. The Tribunal clarified that while taxes can be directly recovered from Carbijet Inc, Air India's liability would be reduced accordingly. The appeal was allowed, and the decision was rendered on 5th April 2016. en-us Tue, 05 Apr 2016 00:00:00 +0530 Thu, 12 May 2016 22:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327562 The Appellate Tribunal upheld the assessment of income amounting to Rs. 97,35,04,000 in the hands of Air India as an agent, reversing the CIT(A)'s decision. The Tribunal emphasized that once the income is taxed in one party's hands, it cannot be taxed again in the other's. The Tribunal clarified that while taxes can be directly recovered from Carbijet Inc, Air India's liability would be reduced accordingly. The appeal was allowed, and the decision was rendered on 5th April 2016. Case-Laws Income Tax Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327562