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Gujarat HC Sets Aside Income Re-Assessment Notice for Taxing Remuneration from Capital Account - (02 Feb 2022)

DIRECT TAXATION

Gujarat High Court has set aside the income re-assessment notice issued by the Income Tax Department to the partner of a firm, holding that there is no reason for taxing the remuneration from the capital account of the partnership firm since the partner had agreed not to derive any income thereof.

Tags : GUJARAT HIGH COURT   RE-ASSESSMENT NOTICE FOR TAXING REMUNERATION  

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