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of <h1>Assessee-firm denied charity deduction by High Court, partnership deed not establishing overriding charge.</h1> The High Court of Allahabad held that the assessee-firm was not entitled to a deduction of 6.25% of profits for charity. The Court agreed with the ... Charitable Institution, In Part, Partnership Deed The High Court of Allahabad was asked to decide if an assessee-firm was entitled to a deduction of 6.25% of profits for charity. The Income-tax Officer disallowed the deduction, and both the Appellate Assistant Commissioner and the Appellate Tribunal upheld the decision. The Court agreed with the Tribunal, stating that the partnership deed did not create an overriding charge but only involved the application of income for charity. The decision favored the Revenue and directed the case to be sent back to the Appellate Tribunal.
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