Court Rules Undisclosed Asset Already Reported in Income; Cannot Be Taxed Again Due to Accounting Principles Violation.

Court Rules Undisclosed Asset Already Reported in Income; Cannot Be Taxed Again Due to Accounting Principles Violation. https://www.taxtmi.com/highlights?id=33199 Undisclosed current asset - the impugned addition was part of gross receipt and as shown income in the profit and loss account, thus, it can not become an addition again bringing the same for taxation for not following the principles of accountancy - AT en-us Wed, 08 Feb 2017 12:25:52 +0530 Wed, 08 Feb 2017 12:25:52 +0530 TaxTMI RSS Generator Court Rules Undisclosed Asset Already Reported in Income; Cannot Be Taxed Again Due to Accounting Principles Violation. https://www.taxtmi.com/highlights?id=33199 Undisclosed current asset - the impugned addition was part of gross receipt and as shown income in the profit and loss account, thus, it can not become an addition again bringing the same for taxation for not following the principles of accountancy - AT Highlights Income Tax Wed, 08 Feb 2017 12:25:52 +0530 https://www.taxtmi.com/highlights?id=33199