https://www.taxtmi.com/caselaws?id=36818 The High Court affirmed the Tribunal's decision allowing the deduction of house rent and car expenses against the share income from the firm under the Income-tax Act, 1961. The Court held that partners are entitled to such deductions to earn income from the firm, citing legal precedents supporting the validity of the claimed deductions. The decision favored the assessee, with each party bearing its own costs. Judge Sudhindra Mohan Guha concurred with Judge Sabyasachi Mukherjee's judgment. en-us Mon, 02 Jun 1980 00:00:00 +0530 Wed, 24 Mar 2010 17:37:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36818 The High Court affirmed the Tribunal's decision allowing the deduction of house rent and car expenses against the share income from the firm under the Income-tax Act, 1961. The Court held that partners are entitled to such deductions to earn income from the firm, citing legal precedents supporting the validity of the claimed deductions. The decision favored the assessee, with each party bearing its own costs. Judge Sudhindra Mohan Guha concurred with Judge Sabyasachi Mukherjee's judgment. Case-Laws Income Tax Mon, 02 Jun 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36818