The Tribunal held that the application for settlement in the case of Rohit Traders a firm in which assessee was a partner, had been accepted by the Settlement Commission, the long-term capital gains allegedly relating to the assessee already stood disclosed and taxed in the hands of R and, therefore, it could not be taxed again in the hands of the assessee. (AY.2014-15, 2015-16)
Radhika Goel (Smt) v. Dy. CIT (2022) 95 ITR 39 (Chd)(Trib)
S. 153A : Assessment-Search or requisition-Settlement Commission-Assessment of third person-Double taxation-Long-term capital gains-Capital gains relating to assessee already disclosed and taxed in hands of firm, in which the assessee was partner, and accepted by Settlement Commission-Cannot be taxed again in hands of assessee. [S. 10(38), 45, 132, 153C, 245A(4), 245D]