https://www.taxtmi.com/caselaws?id=14240 The High Court ruled against the assessee-firm in a case involving the interpretation of the principle of double taxation and the application of the principle of diversion of profits. The court held that the firm could not avoid its tax liability by diverting profits to other individuals who had already been assessed and taxed on the same income. The court emphasized that each person is individually responsible for their tax liability and that income belonging to a particular assessee must be taxed accordingly, rejecting the deletion of additions from the firm's income and ruling in favor of the Revenue. en-us Tue, 13 Mar 2001 00:00:00 +0530 Tue, 14 Jul 2009 16:21:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14240 The High Court ruled against the assessee-firm in a case involving the interpretation of the principle of double taxation and the application of the principle of diversion of profits. The court held that the firm could not avoid its tax liability by diverting profits to other individuals who had already been assessed and taxed on the same income. The court emphasized that each person is individually responsible for their tax liability and that income belonging to a particular assessee must be taxed accordingly, rejecting the deletion of additions from the firm's income and ruling in favor of the Revenue. Case-Laws Income Tax Tue, 13 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14240