Same Income cannot be Taxed in Two Assessment Years Simultaneously as per the Scheme of Taxation: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad while considering an appeal held that “The same income cannot be taxed in two assessment years simultaneously as per the scheme of taxation. Thus, while the assessee may not be permitted to defer the tax liability of income of the present year to the next year, […]

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