https://www.taxtmi.com/caselaws?id=29663 Dividend income already included and assessed in an earlier year could not be taxed again in the later assessment year once the earlier assessment had attained finality, as the same income cannot be taxed twice in the hands of the same person. Dividend arising after the completed transfer of shares to Bharat Insurance Co. was also not assessable as the assessee's income, because he retained no beneficial interest and received the amounts only as a conduit under a fiduciary obligation to pass them on. The Tribunal's deletion of the dividend addition was upheld on both grounds, and the reference was answered against the revenue. en-us Wed, 05 Nov 1980 00:00:00 +0530 Mon, 15 Mar 2010 13:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29663 Dividend income already included and assessed in an earlier year could not be taxed again in the later assessment year once the earlier assessment had attained finality, as the same income cannot be taxed twice in the hands of the same person. Dividend arising after the completed transfer of shares to Bharat Insurance Co. was also not assessable as the assessee's income, because he retained no beneficial interest and received the amounts only as a conduit under a fiduciary obligation to pass them on. The Tribunal's deletion of the dividend addition was upheld on both grounds, and the reference was answered against the revenue. Case-Laws Income Tax Wed, 05 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29663