This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT deletes addition of share of profit from Partnership Firm
Case Law Details
- Case Name
- Ajay Verma Vs Income Tax Officer (ITAT Lucknow)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Lucknow
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Ajay Verma Vs ITO (ITAT Lucknow)
Asessing Officer made the additions on account of 50% share of profit and partner’s salary as the Assessing Officer has held that no ITR/balance sheet/P&L account of Partnership Firm was filed to substantiate the claim. Before CIT(A) assessee filed detailed ITR of the firm and also filed the copy of partnership deed wherein the remuneration was mentioned in the partnership deed. It was also submitted that firm had paid tax as per the law on the profit and distributed the remaining profits to partners as per the provisions of partnership deed and also it w...
