Banking & Economics
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Partnership firm declared rental income, but landowners were taxed again; ITAT Bangalore rules against double taxation
The ITAT Bangalore ruled that rental income from a commercial property under a joint development agreement cannot be taxed again in the hands of individual landowners, as it was already disclosed and assessed in the partnership firm.…
Key Highlights
- The ITAT Bangalore ruled that rental income from a commercial property under a joint development agreement cannot be taxed again in the hands of individual landowners, as it was already disclosed and assessed in the partnership firm.
- Details of the case here.
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Reported by Eshita Gain · Syndicated via official news feed
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