1972 (1) TMI 10

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... paid - even though the share income was arrived at after giving deductions under s. 23(5)(a), such expenditure is allowable under section 10(2)(xv) - - - - - Dated:- 17-1-1972 - Judge(s) : RAMANUJAM., V. RAMASWAMY. JUDGMENT The judgment of the court was delivered by RAMANUJAM J.-The assessee in this case is a partner in a registered firm called General Swadesi Stores, and for the asse .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dalmia has been looking after the interests of the assessee in the firm, and that in fact he was paid his salary by the assessee, and not by the firm. The Appellate Assistant Commissioner also agreed with the view of the Income-tax Officer. The Tribunal, however, held following the decision of this court in Basantlal Gupta v. Commissioner of Income-tax that the assessee is entitled to claim deduc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... pta v. Commissioner of Income-tax, which has been approved by the Supreme Court in Commissioner of Income-tax v. Ramniklal Kothari. It is therefore clear that the assessee has been rightly held to be entitled to the deduction from his share income of the salary paid by him to Mr. Dalmia. In this view, the question referred is answered in the affirmative and against the revenue. The assessee will h .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X