Partnership Deed Payments to Retired Partners Disallowed: Precedent Upheld The Bombay HC dismissed the appeal on deduction of payments to retired partners under a partnership deed, relying on a prior decision in a similar case. ...
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Partnership Deed Payments to Retired Partners Disallowed: Precedent Upheld
The Bombay HC dismissed the appeal on deduction of payments to retired partners under a partnership deed, relying on a prior decision in a similar case. The appeal was rejected based on the court's earlier ruling in Income Tax Appeal (L) No.87 of 2011 in the case of CIT Vs. A.F. Ferguson & Co.
The Bombay High Court dismissed the appeal regarding deduction on payments made to retired partners under the partnership deed, citing a previous decision in a similar case. The appeal was rejected based on the court's previous ruling in Income Tax Appeal (L) No.87 of 2011 in the case of CIT Vs. A.F. Ferguson & Co.
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