Authorities Holding Public Auctions Must Disclose All Known Encumbrances and Related Litigation  ||  SC: Compensatory Allowances Must Be Included While Computing Overtime Wages U/S 59 of Factories Act  ||  SC: NGT Has No Jurisdiction to Decide Disputes Relating to Building Plan Violations  ||  SC: Evidence is Often Fabricated Using AI And False Allegations are Rampant in Matrimonial Cases  ||  SC: While Declining to Quash an FIR, A High Court Should Not Direct Police To Follow Section 41A CrPC  ||  Allahabad High Court: Recruitment Rules Cannot Override Compassionate Appointments  ||  Rajasthan HC: Single Blunt Blow Causing Grievous Injury is Not Attempt to Murder Without Intent  ||  Karnataka High Court Holds Mining Leases Granted in Violation of Rule 22-D are Void Ab Initio  ||  Supreme Court: Wait-Listed Candidates Have No Vested Right After List Expiry  ||  SC: Reserved Candidates Scoring Above General Cut-Off Must be Considered For Open Posts    

ITAT, Mumbai: Remuneration Paid to Partner Out of Profit Cannot be Treated as Salary - (25 Apr 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the remuneration paid to Partner out of the share of profit cannot be treated as salary to consider the same as expenditure for the purpose of section 40A(3) of the Income Tax Act, 1961.

Tags : INCOME TAX APPELLATE TRIBUNAL   REMUNERATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved