1998 (12) TMI 21

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....IAN J.--At the instance of the Department, the Income-tax Appellate Tribunal has referred the following question of law for the assessment year 1982-83 under section 256(1) of the Income-tax Act, 1961, for our consideration: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the firm in which the assessee is a partner representi....

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....firm and the amount received was liable to be assessed under the head "Other sources" as it represented only the share of profits. The Appellate Assistant Commissioner as well as the Appellate Tribunal held that the assessee was entitled to standard deduction on the ground that the amount received was salary. The Department has challenged the order of the Tribunal and the Appellate Tribunal has st....

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....by the firm to the partner should therefore be deemed to be the share of profits assessable in his individual capacity and standard deduction was not available on such amount. The decision of N.S.M. Sankarapandian's case [1996] 222 ITR 289 (Mad), in our view, would apply to the facts of this case as well and following the above cited case, we hold that the Tribunal was not correct in holding that ....