https://www.taxtmi.com/caselaws?id=27162 The court ruled in favor of the assessee, preventing double taxation of undistributed profits under section 104 of the Income-tax Act. It held that taxing the income again at the shareholder level after already being taxed at the company level would constitute double taxation, contrary to the Act's intent. The judgment highlighted the consistent character of the income and the legislative objective of avoiding taxing the same income twice. The revision petitions were allowed, emphasizing the principle of no double taxation in this scenario. en-us Thu, 09 Sep 1982 00:00:00 +0530 Thu, 11 Feb 2010 12:18:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27162 The court ruled in favor of the assessee, preventing double taxation of undistributed profits under section 104 of the Income-tax Act. It held that taxing the income again at the shareholder level after already being taxed at the company level would constitute double taxation, contrary to the Act's intent. The judgment highlighted the consistent character of the income and the legislative objective of avoiding taxing the same income twice. The revision petitions were allowed, emphasizing the principle of no double taxation in this scenario. Case-Laws Income Tax Thu, 09 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27162