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ITAT allowed the appellant's appeal, holding that remuneration paid by a partnership to a partner falls within section 28(v) as business income, and therefore expenditures incurred wholly and exclusively for earning that remuneration are deductible under sections 32 and 37. The Tribunal applied the rule of consistency, noting prior allowance of similar deductions (e.g., motor car depreciation) to the appellant and allowance of identical claims to the co-partner in the impugned year, and found no basis to deny the deduction in the assessment under challenge. The assessment order is set aside to the extent it disallowed business-related expenditures claimed against salary/remuneration received from the partnership.
ITAT allowed the appellant's appeal, holding that remuneration paid by a partnership to a partner falls within section 28(v) as business income, and therefore expenditures incurred wholly and exclusively for earning that remuneration are deductible under sections 32 and 37. The Tribunal applied the rule of consistency, noting prior allowance of similar deductions (e.g., motor car depreciation) to the appellant and allowance of identical claims to the co-partner in the impugned year, and found no basis to deny the deduction in the assessment under challenge. The assessment order is set aside to the extent it disallowed business-related expenditures claimed against salary/remuneration received from the partnership.
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