https://www.taxtmi.com/caselaws?id=57868 The Appellate Tribunal dismissed the appeal, upholding the rejection of the deduction claim on the deposit in the Investment Deposit Account under section 32AB. The Tribunal emphasized that the legislative intent and specific language of the amendment clarified that the deduction was intended for the firm, not the partner, in the context of the Investment Deposit Account scheme. The Tribunal concluded that the partner's share of profits from the firm was explicitly excluded for computing the deduction under section 32AB. en-us Fri, 24 Mar 1995 00:00:00 +0530 Wed, 15 Dec 2010 10:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57868 The Appellate Tribunal dismissed the appeal, upholding the rejection of the deduction claim on the deposit in the Investment Deposit Account under section 32AB. The Tribunal emphasized that the legislative intent and specific language of the amendment clarified that the deduction was intended for the firm, not the partner, in the context of the Investment Deposit Account scheme. The Tribunal concluded that the partner's share of profits from the firm was explicitly excluded for computing the deduction under section 32AB. Case-Laws Income Tax Fri, 24 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57868