Supreme Court Upholds Assessee in Income Tax Case Allowing Deduction of Expenses Incurred by Partner from Share of Firm's Profits. Partner's Expenditure to Earn Income from Registered Firms is Deductible Under Section 10(2) of Income-tax Act, 1922 Despite Prior Computation of Firm's Profits.
7 Mar 1969The dispute arose from income tax assessments for the years 1955-56 and 1956-57 concerning Ramniklal Kothari, a partner in four registered firms who d...
