https://www.taxtmi.com/caselaws?id=29309 The court upheld the Tribunal's decision to allow half of the claimed amount as a deduction from the assessee's share income under the Indian Income-tax Act, 1922. It ruled in favor of the assessee, stating that possibly the entire amount could have been allowed as a deduction. The court distinguished the case from precedents and emphasized that expenses incurred by a partner in managing interests in a firm could be considered allowable deductions against the partner's share from a partnership business. en-us Sun, 13 Sep 1981 00:00:00 +0530 Fri, 12 Mar 2010 11:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29309 The court upheld the Tribunal's decision to allow half of the claimed amount as a deduction from the assessee's share income under the Indian Income-tax Act, 1922. It ruled in favor of the assessee, stating that possibly the entire amount could have been allowed as a deduction. The court distinguished the case from precedents and emphasized that expenses incurred by a partner in managing interests in a firm could be considered allowable deductions against the partner's share from a partnership business. Case-Laws Income Tax Sun, 13 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29309