https://www.taxtmi.com/caselaws?id=358011 The ITAT Mumbai upheld the FAA's decisions regarding the deletion of additions made by the AO as deemed income for AYs 2006-07 and 2007-08. Emphasizing the principle of assessing income in the correct hands to prevent double taxation, the ITAT dismissed the AO's appeals, affirming that the income should only be taxed once and in one AY. The judgments were pronounced on 28th March 2018, solidifying the importance of consistency and adherence to tax jurisprudence principles in such matters. en-us Wed, 28 Mar 2018 00:00:00 +0530 Wed, 04 Apr 2018 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358011 The ITAT Mumbai upheld the FAA's decisions regarding the deletion of additions made by the AO as deemed income for AYs 2006-07 and 2007-08. Emphasizing the principle of assessing income in the correct hands to prevent double taxation, the ITAT dismissed the AO's appeals, affirming that the income should only be taxed once and in one AY. The judgments were pronounced on 28th March 2018, solidifying the importance of consistency and adherence to tax jurisprudence principles in such matters. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358011