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If partner used club membership taken in his own name for business purpose then Club subscription paid by firm is allowable
Case Law Details
- Case Name
- Deep-raj Minerals Vs ACIT (ITAT Mumbai 'D' Bench)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Mumbai
RELEVANT PARAGRAPH
13. We have heard both the parties and perused the orders of the revenue authorities as well as above cited judgment of the jurisdictional High Court in the case of Otis Elevator Co (India) Ltd (supra). The case of the assessee is that the said subscription of Rs 3 lakhs is wholly and exclusively for the business purpose. On the other hand, the case of the revenue is that the unlike in company, the membership of a working partners should be seen in a different context as the firm has more than one partners, who are equal in matters of running of the business of the firm. The...
