https://www.taxtmi.com/caselaws?id=787770 Protective additions against a society based on impounded diary entries were examined for admissible ownership, corroboration, and correct computation method; the Tribunal applied the peak credit methodology (considering net peak debits/credits) and the principle that identical money cannot be taxed twice, noting individuals had declared and paid tax on amounts covering computed peak credits. Because prior assessments of the individuals apportioned and taxed peak credits and amounts were surrendered in their hands, credit must be allowed and duplicate protective additions in the society cannot be sustained; Revenue appeals dismissing those additions were rejected. en-us Thu, 15 Jan 2026 00:00:00 +0530 Tue, 10 Mar 2026 12:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787770 Protective additions against a society based on impounded diary entries were examined for admissible ownership, corroboration, and correct computation method; the Tribunal applied the peak credit methodology (considering net peak debits/credits) and the principle that identical money cannot be taxed twice, noting individuals had declared and paid tax on amounts covering computed peak credits. Because prior assessments of the individuals apportioned and taxed peak credits and amounts were surrendered in their hands, credit must be allowed and duplicate protective additions in the society cannot be sustained; Revenue appeals dismissing those additions were rejected. Case-Laws Income Tax Thu, 15 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787770