https://www.taxtmi.com/caselaws?id=399437 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order that deleted the addition of Rs. 35,23,75,000 for 3,50,000 shares. It recognized that taxing the same shares in the hands of the assessee and the group companies would lead to double taxation. The Tribunal emphasized that only actual income received or accrued should be taxed, not notional or hypothetical income. en-us Wed, 07 Oct 2020 00:00:00 +0530 Sat, 10 Oct 2020 15:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399437 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order that deleted the addition of Rs. 35,23,75,000 for 3,50,000 shares. It recognized that taxing the same shares in the hands of the assessee and the group companies would lead to double taxation. The Tribunal emphasized that only actual income received or accrued should be taxed, not notional or hypothetical income. Case-Laws Income Tax Wed, 07 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399437