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2020 (6) TMI 403 - AT - Income TaxLong term capital gain - year of assessment - double taxation - HELD THAT:- Assessee had already paid the taxes on long term capital gain(LTCG) in preceding years viz:2004-05, 2005-06, and 2006-07, and therefore the assessee need not to pay the taxes on the same income again in assessment year 2012-13. The taxes should not be imposed except by authority of law, that is the Department does not have power to impose tax twice on the same income and therefore, based on the factual position narrated above, the addition made by the assessing officer under the head business income needs to be deleted, accordingly we delete the addition - Decided in favour of assessee.
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