In deposit of trading receipts of the firm in the bank account ...

Income Tax

September 27, 2016

In deposit of trading receipts of the firm in the bank account of the partner, the assessee has not violated any of the provisions of the Income Tax Act, even if it may be a violation of the section 19(2) of the Indian Partnership Act, 1932, and further, there is no dispute that the money belonged to the partnership firm and after deposit, the money was transferred to the partnership firm, in such circumstances, no addition is called for in the case of partner of the firm - AT

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In deposit of trading receipts of the firm in the bank account ...

Income Tax

September 27, 2016

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