Double Taxation Claim not Allowed as Income Actually Belonged to Assessee

R.B. Shreeram Durgaprasad Private Limited Vs CIT (Bombay High Court) The Bombay High Court considered two questions referred by the Income Tax Appellate Tribunal (ITAT): whether a sum of ₹1.71 crore had already been included in the income of an export firm for assessment years 1950–51 to 1958–59, and whether the Tribunal was justified in sustaining the addition of the same amount as income of the assessee company arising from under-invoiced export transactions. The assessee company, which was under liquidation, did not dispute that the amount of ₹1.71 crore had already been included in...