Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 1987 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1987 (1) TMI 117 - ITAT AMRITSARExtract: ....... was nothing but sharing of profits and that principle had been statutorily incorporated in section 40(b). Consequently, we uphold the action of the lower authorities in adding back the amounts of salary of Rs. 12,000 paid to S. Boota Singh for both the assessment years under section under section 40(b). 10. Both the appeals fail and are dismissed.
|