https://www.taxtmi.com/caselaws?id=244763 The court quashed the Assessment Order and Notice of Demand, ruling in favor of the petitioner, a private limited company, allowing it to claim exemption under sub-section (2A) of Section 10 of the Income-tax Act, 1961, on its share of profit from the partnership firm. The court upheld the validity of the explanation to sub-section (2A), emphasizing the prevention of double taxation and equality in tax treatment for partners of a firm. en-us Fri, 07 Feb 2014 00:00:00 +0530 Fri, 20 Feb 2015 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244763 The court quashed the Assessment Order and Notice of Demand, ruling in favor of the petitioner, a private limited company, allowing it to claim exemption under sub-section (2A) of Section 10 of the Income-tax Act, 1961, on its share of profit from the partnership firm. The court upheld the validity of the explanation to sub-section (2A), emphasizing the prevention of double taxation and equality in tax treatment for partners of a firm. Case-Laws Income Tax Fri, 07 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244763