Case Law Details
Case Name : Principal Commissioner Vs Ramesh Chandra Rai (Madhya Pradesh High Court)
Related Assessment Year :
Courts :
All High Courts Madhya Pradesh HC
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Principal Commissioner Vs Ramesh Chandra Rai (Madhya Pradesh High Court)
Conclusion: As per clause (a) of proviso to section 86 of the Act r.w.s 67A of the Act, if the assessee was a member in AOP/BOI and income earned from such AOP/BOI had been offered to tax, then, the share received by assessee from such AOP/BOI after payment of due taxes could not be taxed again in the hands of the recipient assessee.
Held: AO made additions on account of share of assessee in undisclosed income of some syndicates, share in inadmissible expenses incurre
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