Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn

The ITAT has ruled that tax assessed under Section 245D(4) of the Income Tax Act cannot be reassessed under Section 69C due to double taxation concerns. The case involved an issue where income had already been accounted for under Section 245D(4), but the tax authorities sought to reassess it under Section 69C. The ITAT found that reassessing the same income under multiple provisions would result in double taxation. The tribunal emphasized the principle of consistency and fairness in tax assessments, ensuring that once income has been accounted for under one provision, it cannot be reassessed under another provision for the same period.