Same Undisclosed Income cannot be taxed in the hand of both Partners & Partnership Firm

Maheshbhai Shantibhai Patel Vs ITO (ITAT Ahmedabad) The taxability of undisclosed income detected in the course of search in the case of partnership firm where the assessee is a partner is in question. We shall first take a look into the second proposition raised on behalf of the assessee. On behalf of the assessee, it is sought to be contended that the alleged undisclosed income has already been included in the taxable income of the partnership firm in the course of settlement proceedings and thus the same income cannot be taxed again in hands of the partners. We find ourselves in complete ag...