https://www.taxtmi.com/caselaws?id=61143 The Tribunal concluded that the CIT's order under Section 263 of the IT Act was invalid as it did not clearly establish the criteria for invoking the section. It was held that the firm's activities constituted a profession, not a business, and therefore, Section 64(1)(i) was not applicable to the income distribution between partners. The Tribunal allowed the appeals, canceling the CIT's order. en-us Sat, 31 Jan 1981 00:00:00 +0530 Tue, 11 Jan 2011 11:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61143 The Tribunal concluded that the CIT's order under Section 263 of the IT Act was invalid as it did not clearly establish the criteria for invoking the section. It was held that the firm's activities constituted a profession, not a business, and therefore, Section 64(1)(i) was not applicable to the income distribution between partners. The Tribunal allowed the appeals, canceling the CIT's order. Case-Laws Income Tax Sat, 31 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61143