If Deposits Are Already Included in Proprietor’s Income, They Cannot Be Taxed Again: ITAT:
ITAT held that cash deposits already recorded and taxed in the successor proprietorship concern cannot be taxed again in the hands of the dissolved partnership firm and remanded the matter for verification.
ITAT Directs AO to Verify Taxability of Cash Deposits
Vanshika verma
Jun 5, 2026
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If Deposits Are Already Included in Proprietor’s Income, They Cannot Be Taxed Again: ITAT
ITAT held that cash deposits already recorded and taxed in the successor proprietorship concern cannot be taxed again in the hands of the dissolved partnership firm and remanded the matter for verification.
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Vanshika verma
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Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
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