https://www.taxtmi.com/caselaws?id=333398 The ITAT Kolkata partially allowed the assessee's appeal by directing the deletion of the addition made under section 68 of the Income Tax Act in a case involving block assessment. The ITAT found that further additions in regular assessment would lead to double taxation as the credits in bank accounts were already included in the block assessment. The ITAT emphasized the need to avoid double taxation and maintain consistency in tax treatment, highlighting the complexities of assessing cash credits and commission income in such cases. en-us Wed, 24 Aug 2016 00:00:00 +0530 Thu, 13 Oct 2016 09:42:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333398 The ITAT Kolkata partially allowed the assessee's appeal by directing the deletion of the addition made under section 68 of the Income Tax Act in a case involving block assessment. The ITAT found that further additions in regular assessment would lead to double taxation as the credits in bank accounts were already included in the block assessment. The ITAT emphasized the need to avoid double taxation and maintain consistency in tax treatment, highlighting the complexities of assessing cash credits and commission income in such cases. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333398