https://www.taxtmi.com/caselaws?id=70040 The tribunal held that the assessee, a partner in two firms, was not entitled to a deduction under section 32AB of the Income-tax Act, 1961, as the firms had already claimed and received the deduction based on their deposits. The tribunal clarified that the deduction is only available to the firm conducting the eligible business, not its partners. Therefore, the department's appeal was allowed, and the assessee's claim for deduction under section 32AB was denied. en-us Mon, 12 Jun 1995 00:00:00 +0530 Wed, 13 Apr 2011 16:30:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70040 The tribunal held that the assessee, a partner in two firms, was not entitled to a deduction under section 32AB of the Income-tax Act, 1961, as the firms had already claimed and received the deduction based on their deposits. The tribunal clarified that the deduction is only available to the firm conducting the eligible business, not its partners. Therefore, the department's appeal was allowed, and the assessee's claim for deduction under section 32AB was denied. Case-Laws Income Tax Mon, 12 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70040