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Double Taxation Not Permitted: ITAT Mumbai Deletes 2% Estimated Profit Added in Hands of Partnership Firm
Case Law Details
- Case Name
- Bahri Auto Service Vs CIT ( ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Bahri Auto Service Vs CIT ( ITAT Mumbai)
Double Taxation Not Permitted: ITAT Mumbai Deletes 2% Estimated Profit Added in Hands of Partnership Firm
Assessee-firm, Bahri Auto Service, faced reassessment u/s 147 r.w.s. 144/144B after AO noticed cash deposits in its partnership bank account & treated 8% of total credits (₹48,27,830) as taxable income, alleging no return was filed in the firm’s name. CIT(A) examined the entire factual matrix & found that the petrol pump business was originally a sole proprietorship of Late Shri Somraj H. Bahri. After his demise on 21.04...
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