Case Law Details
Case Name : R.B. Shreeram Durgaprasad (P) Ltd. Vs The CIT (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Brief of the Case
Bombay High court held In the case of R.B. Shreeram Durgaprasad (P) Ltd. vs. The CIT that concept of double taxation is not attracted in the present matter. The Export firm has to pay tax as it has actually utilized that amount as its income while the assessee has to pay tax as it attempted to conceal that income. The income really belongs to the assessee and he is answerable to pay tax upon it even if the same taxed in the account of export firm.
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There is a decision of the Supreme Court in the case of State of Karnataka vs Ayyanahalli Bakkappa &Sons (1988)71 STC 202 where the same turnover of sales were already assessed in the hands of three depots which were not registered as dealers, the Department cannot pass a reassessment order against the Respondent in respect of the same turnover, since two assessments on the same turnover is not permissible.