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Presumptive Taxation Allowed as Partner’s Remuneration Is Professional Income: ITAT Delhi
Case Law Details
- Case Name
- Ranu Gupta Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Ranu Gupta Vs ACIT (ITAT Delhi)
RANU GUPTA V. ACIT (ITAT DELHI): APPLICABILITY OF SECTION 44ADA ON PARTNER’S REMUNERATION
Facts
The assessee, a Chartered Accountant, was a partner in M/s SARC and Associates.
He received ₹27,00,000 as partner’s remuneration.
He opted for Section 44ADA and offered 50% of the receipts to tax.
The AO and CIT(A) disallowed the claim, holding that:
Partner’s remuneration is not “gross receipts” from profession.
Section 44ADA applies only to independent professional practice.
Issue
Whether remuneration received by a professional part...
Author Info
