Remuneration/interest can’t be taxed in hands of partners relying upon deed if same wasn’t claimed by firm: HC

INCOME TAX : Where assessee was a partner in a firm and Assessing Officer reopened assessment of assessee for assessment year 2011-12 on ground that she failed to show remuneration and interest on capital received from partnership firm in return of income filed, since Tribunal while deciding appeal of aforesaid partnership firm in respect of assessment year 2011-12 held that there was no good ground to tax remuneration and interest on capital in hands of partners of firm,INCOME TAX : Where assessee was a partner in a firm and Assessing Officer reopened assessment of assessee for assessment year 2011-12 on ground that she failed to show remuneration and interest on capital received from partnership firm in return of income filed, since Tribunal while deciding appeal of aforesaid partnership firm in respect of assessment year 2011-12 held that there was no good ground to tax remuneration and interest on capital in hands of partners of firm,www.taxmann.com Latest Case LawsRead More

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