https://www.taxtmi.com/caselaws?id=13630 The High Court held that partners are prohibited from claiming deductions on share income from partnership firms under section 32AB of the Income-tax Act. The court found the rectification order valid as the original assessment allowing the deduction was an apparent mistake for overlooking the proviso. The respondent, a limited company, was deemed ineligible for deduction on share income from partnerships. The court reinstated the rectification order, ruling in favor of the Revenue on the issue of eligibility for deduction under section 32AB. en-us Tue, 07 Nov 2006 00:00:00 +0530 Sat, 30 May 2009 17:08:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13630 The High Court held that partners are prohibited from claiming deductions on share income from partnership firms under section 32AB of the Income-tax Act. The court found the rectification order valid as the original assessment allowing the deduction was an apparent mistake for overlooking the proviso. The respondent, a limited company, was deemed ineligible for deduction on share income from partnerships. The court reinstated the rectification order, ruling in favor of the Revenue on the issue of eligibility for deduction under section 32AB. Case-Laws Income Tax Tue, 07 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13630