1972 (1) TMI 10

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...., and for the assessment years 1958-59, 1959-60 and 1960-61, he derived share income of Rs. 18,313, Rs. 24,991 and Rs. 26,677, respectively. From the share income received by him, the assessee claimed as deduction under section 10(2)(xv) of the Income-tax Act, 1922, the salary which he has paid to one Mr. Dalmia, said to have been appointed by him for looking after his interests in the partnership....

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....led to claim deduction under section 10(2)(xv) in his individual assessment, even though the share income has been arrived at after giving deductions under section 23(5)(a). The Tribunal also gave a specified finding that Mr. Dalmia was rendering service only to the assessee by looking after his interests in the firm of General Swadesi Stores in which the assesee was a partner and that he got remu....