Remuneration to Partners as Representative of HUF Allowed u/s 40(b)

Shreeji Corporation Vs JCIT (ITAT Ahmedabad)

The issue under consideration is whether remuneration paid to a partner acting in a representative capacity as karta of HUF is allowed u/s 40(b)?

ITAT states that the expression ‘person’ as defined in the Indian Income-tax Act as well as in the Excess Profits Tax Act, HUF is not juristic person for all purposes. When two kartas of two Hindu undivided families enter into a partnership agreement the pa

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