Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 361 - AT - Income TaxDisallowance of annuity payment made to wife of a deceased partner of the firm - HELD THAT:- It is the case of the assessee that the assessee firm had made a payment as payment of annuity to the wife of the deceased Partner of the assessee firm Shri Jahangir Garat. This payment was made as per the agreed terms vide Clause-12:4 of the Partnership Deed dated 22nd June 2006 and, hence, the claim has to be allowed. Revenue authorities have disallowed the claim of the assessee in view of the decision of the Co-ordinate Bench of the Tribunal rendered in assessee's own case in preceding assessment year i.e., 2008-09 in Gagrats v/s. ACIT, [2015 (3) TMI 1395 - ITAT MUMBAI] wherein exactly similar issue has been decided by the Tribunal against the assessee and in favour of the Revenue by following the precedence being maintained on this issue by the Tribunal in assessee's own case cited supra. Before us, assessee has not brought any material on record which is contrary to the decision of the Tribunal as aforesaid to enable this Bench to take a different view. - Decided against assesee.
|