Firm Denied Deduction for Partner Payments After Income Estimated at 15% per Section 144 and 184(5).

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Payment of remuneration and interest by the assessee firm to its partners - once the income was estimated at 15 of the gross commission amount by invoking the provisions of S. 144, no further deduction on account of interest and remuneration paid to the partners can be allowed as per the specific provisions of S. 184(5) - AT....