Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be discontinued soon
Home
2020 (12) TMI 263 - SCH - Income TaxAssessment of AOP - Addition adopting net profit ratio @ 11.59% of the gross receipts - distribution of business receipts directly among its constituents members - requirements of CBDT circular referred to hereinabove are duly satisfied in the case of the assessee and hence once the amount has been offered to tax by its members the assessee could not be saddled with the liability to pay tax in respect of the same amount - HELD THAT - SLP dismissed.
|