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1972 (4) TMI 11 - PATNA HIGH COURTFirm – deed – loss - allocation of shares of partners - Whether the allocation must be in accordance with partnership deed – held that, when a partnership is registered, who the partners are can be decided only with reference to the partnership deed – whether treating the share of some of the partners as belonging to others is permissible – held that clubbing of the share of some of the partners in the hands of their respective fathers was not justified - whether loss of cash by theft is a deductible expenditure – held that such loss is admissible deduction in computing the business profit, if the loss is incidental to the business
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