https://www.taxtmi.com/caselaws?id=63967 The Tribunal allowed the deduction claimed under section 80RR for share income from a firm engaged in photography and journalism business. It held that the income retained its character in the hands of individual partners, qualifying as income from the profession of artists. The Tribunal emphasized compliance with the Foreign Exchange Regulation Act for the deduction and directed verification by the Assessing Officer. Relying on precedents, including a decision of the Allahabad High Court, the Tribunal concluded that income derived by the firm maintains its nature in the hands of partners, ultimately ruling in favor of the assessee. en-us Tue, 19 May 1992 00:00:00 +0530 Sat, 09 Apr 2016 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63967 The Tribunal allowed the deduction claimed under section 80RR for share income from a firm engaged in photography and journalism business. It held that the income retained its character in the hands of individual partners, qualifying as income from the profession of artists. The Tribunal emphasized compliance with the Foreign Exchange Regulation Act for the deduction and directed verification by the Assessing Officer. Relying on precedents, including a decision of the Allahabad High Court, the Tribunal concluded that income derived by the firm maintains its nature in the hands of partners, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 19 May 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63967