High Court Rules All Income in Profit & Loss Account Counts for Partner Remuneration Deductions u/s 40(b.

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....Remuneration to partners - Deduction u/s 40(b) - whole income embedded in P & L account of assessee is to be taken into consideration for allowing deduction of remuneration paid to partners under section 40(b) without excluding interest income credited to P & L account even if it is not business income - HC....