https://www.taxtmi.com/caselaws?id=17056 Andhra Pradesh HC held that where income from contracts is estimated under s.29 read with s.145 by rejecting books, that estimate substitutes the computed income and is taken to have allowed or disallowed relevant deductions; therefore interest and remuneration paid to partners could not be separately added back under s.40(b). The court rejected Revenue's contention that s.40(b) required a fresh addition after estimation, finding such an approach inconsistent and ruling in favor of the assessee. en-us Thu, 12 Mar 1998 00:00:00 +0530 Fri, 10 Oct 2025 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17056 Andhra Pradesh HC held that where income from contracts is estimated under s.29 read with s.145 by rejecting books, that estimate substitutes the computed income and is taken to have allowed or disallowed relevant deductions; therefore interest and remuneration paid to partners could not be separately added back under s.40(b). The court rejected Revenue's contention that s.40(b) required a fresh addition after estimation, finding such an approach inconsistent and ruling in favor of the assessee. Case-Laws Income Tax Thu, 12 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17056