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2022 (11) TMI 1255 - ITAT PUNECapital Gain on sale of land - liability to be taxed in the hands of the appellant - appellant requests your honour to kindly direct the learned assessing officer to allow the credit of income tax paid by the company on the capital gain on sale of land against the income tax payable by the appellant on the capital gain arises from the sale of said land - HELD THAT:- We hardly see any reason to accept the assessee’s instant latter argument in light of hon’ble apex court’s landmark decision in CIT vs., Ch Atchaiah [1995 (12) TMI 1 - SUPREME COURT] that the correct amount of income has to be assessed in right person’s hands only. Faced with this situation, we hardly see any reason to entertain the assessee’s instant remand request seeking credit of the alleged taxes payment by the company in this appellant’s hands. Rejected accordingly.
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