Friday 2 May 2014

ITAT raps revenue for invoking sec. 40(b) by treating only those partners as working who were entitl

IT : Where in terms of partnership deed assessee-firm paid bonus to all partners including working partners, conditions prescribed under section 40(b) stood fulfilled and, thus, Assessing Officer could not disallow said payment in case of one partner holding that he was not a working partner


No comments:

Post a Comment