2016 (8) TMI 1448 - SCH - Income Tax

Accrual of income to the AOP - No income accrued to the assessee - Tribunal has relied upon its earlier orders and to the effect that when no income accrues to the AOP but to the respective constituents of the AOP, who were to do specified portion of a contract at their own risks and in their individual capacities, then the AOP is not liable to be taxed also confirmed by HC - HELD THAT - SLP dismissed.

Summary

The Supreme Court of India in 2016 (8) TMI 1448 - SC Order, with judges Ranjan Gogoi and Prafulla C. Pant, dismissed the Special Leave Petitions as no legal grounds were found for interference. The counsels for both parties were heard and relevant material was considered.