https://www.taxtmi.com/caselaws?id=470926 Profit on redemption of debentures, already offered as short-term capital gains, may not also be assessed as income from other sources unless an express statutory provision permits double taxation. Processing under section 143(1) treated the amount as income from other sources after reducing it from business receipts. Verification of the return computation and supporting evidence was required to determine whether the same income had been taxed twice. The double-taxation claim was restored to the Assessing Officer for limited verification and adjudication on merits. en-us Thu, 27 Mar 2025 00:00:00 +0530 Fri, 14 Aug 2026 07:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470926 Profit on redemption of debentures, already offered as short-term capital gains, may not also be assessed as income from other sources unless an express statutory provision permits double taxation. Processing under section 143(1) treated the amount as income from other sources after reducing it from business receipts. Verification of the return computation and supporting evidence was required to determine whether the same income had been taxed twice. The double-taxation claim was restored to the Assessing Officer for limited verification and adjudication on merits. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470926