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1. Disallowance of interest expenditure in the hands of partner - investment as capital in the business of the partnership firm - Absence of earning any interest income on...

2. Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

3. Short Term Capital Gain - conversion of the Partnership Firms into Companies - Additions in the hands of partners - CIT (Appeals) correctly deleted the additions on...

4. Imposition of penalty - If any liability arises against the partnership firm i.e. shifted on partners of partnership firm in the sharing ratio of the partners,...

5. Distribution of capital assets u/s 45(4) - partnership firm - crediting revaluation surplus to partners account settling their accounts on their retirement - It is the...

6. Demand of service tax on partners services to partnership firm - separate identity - mutuality of services - there cannot be a service provider – service recipient...

7. Characterization of income - consideration received by the partner of a firm upon retirement from the firm - retirement benefit - any money received by the partner upon...

8. Capital gain u/s 45 - compensation received by a partner from another partner for relinquishing rights in the partnership firm - the compensation received by the...

9. Penalty u/r 26 of CER - Clandestine removal - Once the penalty was imposed on a partnership firm, no separate penalty should be imposed on the partners separately for...

10. Addition u/s 68 in the hands of partnership firm - capital introduced by five partners, which in turn was out of the loan advanced - The Appellate Tribunal (AT) examined...

11. Penalty u/s 271D - Loan and advances to partners - no separate identity for the partnership firm and that the partner is entitled to use the funds of the firm - No...

12. In deposit of trading receipts of the firm in the bank account of the partner, the assessee has not violated any of the provisions of the Income Tax Act, even if it may...

13. Levy of simultaneous penalties on both the Partner and Partnership firm in adjudication proceedings under the Customs Act. - Penalty for abeting - Simultaneous...

14. Taxability in the hands of partners v/s firm - transfer of capital asset by firm to partners - There is no merit in the arguments advanced by assessee, that transfer of...

15. Capital gain u/s 45(4) in partnership firm on retirement of a partner - dissolution/reconstitution of partnership firm - the provisions of Section 45(4) would not be...