https://www.taxtmi.com/caselaws?id=7437 Where a partner's entitlement to a share of partnership profits is contractual consideration for services, expenditures incurred by the partner to render those services are for the purpose of earning that share and are deductible against the partner's share income. The partnership deed and factual finding that the partner employed a full time manager to perform the services that entitled him to his half share were decisive. The legal test is whether the expense was incurred to produce the service based profit share; if affirmative, deduction under the relevant allowance is available to the partner. en-us Mon, 25 Nov 1968 00:00:00 +0530 Thu, 19 Feb 2009 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7437 Where a partner's entitlement to a share of partnership profits is contractual consideration for services, expenditures incurred by the partner to render those services are for the purpose of earning that share and are deductible against the partner's share income. The partnership deed and factual finding that the partner employed a full time manager to perform the services that entitled him to his half share were decisive. The legal test is whether the expense was incurred to produce the service based profit share; if affirmative, deduction under the relevant allowance is available to the partner. Case-Laws Income Tax Mon, 25 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7437