https://www.taxtmi.com/caselaws?id=22460 The court held that the commission paid to Janata Film Distributors was not hit by section 40(b) of the Income-tax Act, as it was not paid out of the firm's income to a partner. Regarding the payment of Rs. 1,25,000 to a retiring partner, the court deemed Rs. 50,000 as revenue expenditure for surrendering sub-distribution rights, and Rs. 75,000 as capital expenditure for relinquishing partnership rights. The court's decision favored the assessee on the commission issue and partially favored both the assessee and the Revenue on the payment to the retiring partner. en-us Mon, 24 Sep 1990 00:00:00 +0530 Thu, 10 Dec 2009 12:11:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22460 The court held that the commission paid to Janata Film Distributors was not hit by section 40(b) of the Income-tax Act, as it was not paid out of the firm's income to a partner. Regarding the payment of Rs. 1,25,000 to a retiring partner, the court deemed Rs. 50,000 as revenue expenditure for surrendering sub-distribution rights, and Rs. 75,000 as capital expenditure for relinquishing partnership rights. The court's decision favored the assessee on the commission issue and partially favored both the assessee and the Revenue on the payment to the retiring partner. Case-Laws Income Tax Mon, 24 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22460