Whether deduction under the section is allowed from income of registered firms and only resultant net income is distributed for assessment in partners' cases

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....ome is distributed for assessment in partners' cases 1. The Allahabad High Court have held in their judgment dated 24-3-1971 in the case of CIT v. Bharat Bhandar [1974] 94 ITR 315 that rebate under sections 84 and 88 should be allowed to a registered firm as well as its partners. The Board has accepted the decision and has decided that the law as laid down by the Allahabad High Court should be ....