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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Member's share in association income: deduct member payments, apportion balance, then add or adjust remunerations.</h1> A member's share is computed by deducting any interest, salary, bonus, commission or remuneration paid to members from the association's total income and apportioning the balance among members; if the apportioned amount to a member is a profit the remuneration paid to that member is added to that amount, if a loss the remuneration is adjusted against it. The computed share is apportioned among the same heads of income as those used for the association, and interest on capital borrowed by a member for investment in the association is deductible under Profits and Gains of Business or Profession.

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