Case Law Details
Case Name : A.F. Ferguson & Co. Vs. The Asst. Commissioner of Income Tax (ITAT Mumbai)
Appeal Number : ITA No. 663/Mum/2010
Date of Judgement/Order : 10/08/2011
Related Assessment Year : 2006- 07
Courts :
All ITAT ITAT Mumbai
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A.F. Ferguson & Co. Vs. The Asst. Commissioner of Income Tax– The dispute is regarding allow-ability of deductions on account of payments made by the assessee to the retired partners and wives of deceased partners while computing the total income. The payments had been made under the provisions of partnership deed.
The same issue had been examined by the Tribunal in assessee’s own case for assessment year 2003-04 in ITA No. 1113/M/2007. The Tribunal after examination of various clauses of partnership deed noted tha
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