SHREE GANESH STORE v. INCOME TAX OFFICER
[Citation -1984-LL-0808-4]
| Citation | 1984-LL-0808-4 |
|---|---|
| Appellant Name | SHREE GANESH STORE |
| Respondent Name | INCOME TAX OFFICER |
| Court | ITAT |
| Relevant Act | Income-tax |
| Date of Order | 08/08/1984 |
| Judgment | View Judgment |
| Keyword Tags | judicial decision • special bench • interest paid |
| Bot Summary: | The authorised representative argued that the addition under s. 40 is not legal; and correct as the salary has not been paid to the partner but to Shri Mohan Lal Choudhary;in his individual; capacity who was not a partner. Apart from;the above in the paper book the decision of ITAT, Bench A Patna in ITO vs. Smt. Sushila Devi Tamakuwala 8; TTJ 472 has been produced. The Departmental representative argued that the disallowance was according to the judicial decision and should be confirmed. As far as the decision relied upon of their Lordships; of the Patna High Court in 39 CTR 345: 146 ITR 240;(FB) is concerned this decision is not relevant as this decision is in the case of HUF and not in the case of firm. 30th Aug., 1979 relied upon is also not relevant as this decision has been given in the case of HUF and not in the case of firm. The decision of ITAT relied upon is also; thus not relevant. Following the said decision of this Bench and also the decisions mentioned above, we hold that the; interest paid to the individual as also; salary paid to the individual according to the terms of the partnership deed as partner was correctly disallowed under s. 40 of the IT Act. |