https://www.taxtmi.com/highlights?id=92275 ITAT allows rectification under s.154 and directs that the previously taxed amount of Rs.7.66 crores, offered by the assessee in its return and taxed in AY 2015-16, shall not be recharacterised or re-added in the impugned assessment year. The Tribunal holds that income from testing/calibration and sponsored fees, computed on actual basis, having been subjected to tax earlier, must be excluded from current-year taxable income and any addition under s.11(1B) is unsustainable. AO is directed to reduce the assessed income accordingly, delete the impugned addition and delete the amount from the current-year computation after due verification, with adjustments to be given effect in the rectified assessment. en-us Sat, 06 Sep 2025 08:16:25 +0530 Sat, 06 Sep 2025 08:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=92275 ITAT allows rectification under s.154 and directs that the previously taxed amount of Rs.7.66 crores, offered by the assessee in its return and taxed in AY 2015-16, shall not be recharacterised or re-added in the impugned assessment year. The Tribunal holds that income from testing/calibration and sponsored fees, computed on actual basis, having been subjected to tax earlier, must be excluded from current-year taxable income and any addition under s.11(1B) is unsustainable. AO is directed to reduce the assessed income accordingly, delete the impugned addition and delete the amount from the current-year computation after due verification, with adjustments to be given effect in the rectified assessment. Highlights Income Tax Sat, 06 Sep 2025 08:16:25 +0530 https://www.taxtmi.com/highlights?id=92275