https://www.taxtmi.com/caselaws?id=64502 The Appellate Tribunal ITAT DELHI-D resolved a dispute over the allocation of share among partners of a firm, specifically regarding the deduction claimed under section 32AB. The Tribunal clarified that the proviso to section 32AB aims to prevent double deduction by disallowing the deduction in the computation of partners' income. Emphasizing the application of section 182, which mandates the inclusion of partners' share income in their total income, the Tribunal upheld the decision to allocate the firm's income among partners without adding back the section 32AB deduction. As a result, the revenue's appeal was dismissed, affirming the lower authority's decision. en-us Mon, 24 Oct 1994 00:00:00 +0530 Tue, 08 Feb 2011 12:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64502 The Appellate Tribunal ITAT DELHI-D resolved a dispute over the allocation of share among partners of a firm, specifically regarding the deduction claimed under section 32AB. The Tribunal clarified that the proviso to section 32AB aims to prevent double deduction by disallowing the deduction in the computation of partners' income. Emphasizing the application of section 182, which mandates the inclusion of partners' share income in their total income, the Tribunal upheld the decision to allocate the firm's income among partners without adding back the section 32AB deduction. As a result, the revenue's appeal was dismissed, affirming the lower authority's decision. Case-Laws Income Tax Mon, 24 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64502