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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 share computation: sets deduction, apportionment and head wise allocation rules for association of persons income.</h1> Method for computing a member's share requires deduction of any interest, salary, bonus, commission or remuneration from the association's total income, apportionment of the balance among members in their entitled proportions, and subsequent addition or adjustment of the member's remuneration against the apportioned profit or loss to determine the member's share; that share is then apportioned under the various heads of income consistent with the association's treatment, and interest on capital borrowed for investment by the member is deductible against the share chargeable under Profits and Gains of Business or Profession.

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