https://www.taxtmi.com/caselaws?id=793095 Income already disclosed under the correct statutory heads cannot be brought again to tax as business income merely because of an error in return preparation. The ITAT noted that the receipts later added to business income had already been reflected under heads such as house property, exempt income, interest and partner-related receipts, and that the return should have been prepared by taking net profit from the profit and loss account after reducing amounts taxable elsewhere. As the rectification-based enhancement would have resulted in double taxation, the addition was deleted and the assessee succeeded. en-us Tue, 12 May 2026 00:00:00 +0530 Mon, 08 Jun 2026 16:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793095 Income already disclosed under the correct statutory heads cannot be brought again to tax as business income merely because of an error in return preparation. The ITAT noted that the receipts later added to business income had already been reflected under heads such as house property, exempt income, interest and partner-related receipts, and that the return should have been prepared by taking net profit from the profit and loss account after reducing amounts taxable elsewhere. As the rectification-based enhancement would have resulted in double taxation, the addition was deleted and the assessee succeeded. Case-Laws Income Tax Tue, 12 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793095