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ITAT Mumbai: Share in Goodwill Paid to Legal Heirs of Deceased Partners Allowable as Deduction - (26 Aug 2019)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the payment made to the legal heirs of deceased partners towards share in goodwill is allowable as a deduction under the Income Tax Act, 1961 since the revenue, in the earlier years, had allowed the same.

Tags : ITAT MUMBAI   DEDUCTION  

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