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2008 (3) TMI 222 - HC - Income TaxExpenses on interest and salary to partners - Since the assessee is maintaining its books of account under the cash system of accounting, deduction on account of salary and interest to be paid to the partners was allowable as per the partnership deed - regular books of account not having been maintained and a flat rate applied, the extra payment receipt by the assessee deserved the same treatment as other payments – revenue appeal is dismissed
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