Additional payment even if made to the retiring partner in ...

Case Laws Income Tax

April 27, 2016

Additional payment even if made to the retiring partner in excess of capital account is not in nature of any profit or income within the meaning of sec.28(va) of the Act and it cannot be brought to tax as business income. - AT

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Additional payment even if made to the retiring partner in ...

Case Laws Income Tax

April 27, 2016

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