https://www.taxtmi.com/caselaws?id=60044 The Tribunal ruled that a partner receiving a salary from a partnership firm is not eligible for standard deduction under section 16(i) of the Income-tax Act, 1961. The salary income was considered part of the firm's profit and not separate income for standard deduction purposes. The decision was based on partnership deed clauses, accounting principles, and precedents, including Supreme Court observations, establishing the nature of partner salary income in taxation law. The appeal was dismissed, affirming that partner salaries are treated as part of the firm's profit and not as independent income eligible for standard deduction. en-us Wed, 06 Feb 1985 00:00:00 +0530 Mon, 03 Jan 2011 14:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60044 The Tribunal ruled that a partner receiving a salary from a partnership firm is not eligible for standard deduction under section 16(i) of the Income-tax Act, 1961. The salary income was considered part of the firm's profit and not separate income for standard deduction purposes. The decision was based on partnership deed clauses, accounting principles, and precedents, including Supreme Court observations, establishing the nature of partner salary income in taxation law. The appeal was dismissed, affirming that partner salaries are treated as part of the firm's profit and not as independent income eligible for standard deduction. Case-Laws Income Tax Wed, 06 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60044