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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Disallowance u/s 40A(2)(b) - huge salary paid to partner - it is ...

Income Tax

April 8, 2015

Disallowance u/s 40A(2)(b) - huge salary paid to partner - it is not that the said person was taxed at a lower rate than that of the assessee-firm - the AO could not substitute the wisdom of the partners of the firm to hold that the salary was excessive and unreasonable - HC

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