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Amount taxed in the head of related entities, cannot be taxed in the hand of Appellant
Case Law Details
- Case Name
- DCIT Vs Shri Jugal Kishore Garg (Derewala) (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Jaipur
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DCIT Vs Jugal Kishore Garg (Derewala) (ITAT Jaipur)
The ld. CIT(A) observed that it is evident that the surplus being referred to by the Ld. AO is not profit from the projects but the receipts of ‘on money’ credited to the capital accounts of the partners which has been considered in the additional income offered by MBDL and accepted by the Hon’ble Settlement Commission.
Thus on merits also since the amounts had already been added by the AO and the same had already been subjected to tax in the hands of MBDL and related entities, therefore, the ld. CIT(A) after considering all...
