https://www.taxtmi.com/caselaws?id=290035 The Court ruled in favor of the Hindu undivided family in the case involving income assessment. The judgment emphasized the distinction between profits received in India and those remitted from abroad for taxation purposes. The Court held that foreign profits not received in India cannot be taxed, leading to a refund of costs and the deposit for the assessee. The decision clarified the interpretation of legal provisions and taxation principles in cross-border business operations under Section 66(2) of the Indian Income Tax Act. en-us Thu, 01 Feb 1940 00:00:00 +0530 Sat, 05 Sep 2020 10:53:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290035 The Court ruled in favor of the Hindu undivided family in the case involving income assessment. The judgment emphasized the distinction between profits received in India and those remitted from abroad for taxation purposes. The Court held that foreign profits not received in India cannot be taxed, leading to a refund of costs and the deposit for the assessee. The decision clarified the interpretation of legal provisions and taxation principles in cross-border business operations under Section 66(2) of the Indian Income Tax Act. Case-Laws Income Tax Thu, 01 Feb 1940 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290035