Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1998 (12) TMI HC This

  • Login
  • Summary

Forgot password       New User/ Regiser

⇒ Register to get Live Demo



 

1998 (12) TMI 26 - HC - Income Tax

The High Court of Madras ruled that a Hindu undivided family partner cannot claim standard deduction for salary received from a firm. The court cited a previous case and held that such salary should be treated as share of profits assessable individually. The Tribunal's decision to allow standard deduction was deemed incorrect. The judgment favored the Revenue with no costs awarded.

 

 

 

 

Quick Updates:Latest Updates