2023 (9) TMI 392 - SC ORDER

Deduction on account of payments made to the legal heir of the deceased partner - whether admissible expenditure under the provisions of the partnership deed? - as decide by HC [2019 (4) TMI 979 - BOMBAY HIGH COURT] partnership firm envisaged payment to a outgoing partner on the basis that the partner would have rendered service during his tenure as a partner of the firm but could not enjoy the fruits thereof on account of the fact that the work having remained incomplete, the concerned client had not been billed for the work already done - HELD THAT:- As respondent has availed of the benefit under the Direct Tax Vivad Se Vishwas Act, 2020 as well as the Rules made thereunder and consequently, the issues which arise in this special leave petition have now been rendered infructuous.

A copy of the Order for Full and Final Settlement of Tax Arrear u/s 5(2) read with Section 6 of the aforesaid Act is also submitted by learned counsel for the respondent dated 02.02.2022.

In view of the said development, the special leave petition has been rendered infructuous and accordingly, stands disposed of in the aforesaid terms.