Presumptive Taxation Allowed as Partner’s Remuneration Is Professional Income: ITAT Delhi

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 partner from a partne...