Case Law Details
Case Name : Deloitte Haskins & Sells Vs ACIT (ITAT Delhi)
Appeal Number : ITA No. 2867/Del/2019
Date of Judgement/Order : 04/08/2022
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Delhi
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Deloitte Haskins & Sells Vs ACIT (ITAT Delhi)
Held that deduction from income claimed for payment made to a retired partners allowable as it amount to a diversion of income at source by overriding title.
Facts-
Assessee’s claim of deduction amounting to Rs.1,37,75,514/- paid to retired partners, claimed on the ground that the amount represented diversion by overriding title, was rejected by the Assessing officer; and the amount was added to assessee’s income. Aggrieved, the assessee filed appeal in the office of Ld. CIT(A). CIT(A) confirmed the addition. Being aggrieved, the present appeal is filed.
Conclusion-
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