Taxpayer's Credit Card Charges Removed to Prevent Double Taxation of Income Source and Expenditure.

Taxpayer's Credit Card Charges Removed to Prevent Double Taxation of Income Source and Expenditure. https://www.taxtmi.com/highlights?id=71928 Additions towards Credit card expenditure - when the income of the assessee has been taxed, he has the source of such expenditure available and therefore, making the addition of the above sum once again, is taxing sources and application of income both, and also amounts to double addition in the hands of the assessee. - Additions deleted - AT en-us Mon, 11 Sep 2023 18:05:17 +0530 Mon, 11 Sep 2023 18:05:17 +0530 TaxTMI RSS Generator Taxpayer's Credit Card Charges Removed to Prevent Double Taxation of Income Source and Expenditure. https://www.taxtmi.com/highlights?id=71928 Additions towards Credit card expenditure - when the income of the assessee has been taxed, he has the source of such expenditure available and therefore, making the addition of the above sum once again, is taxing sources and application of income both, and also amounts to double addition in the hands of the assessee. - Additions deleted - AT Highlights Income Tax Mon, 11 Sep 2023 18:05:17 +0530 https://www.taxtmi.com/highlights?id=71928