Additions on account of professional fees paid to a member of ...

Professional Fees to AOP Member Deemed Profit Appropriation, Not Deductible Expense; Payments Seen as Profit Distribution.

September 17, 2018

Case Laws Income Tax AT

Additions on account of professional fees paid to a member of the assessee Association of Person [AOP] - the impugned payment were mere appropriation of profits and could not be allowed as a deductible expenditure. The share of the contract receipts was predetermined and the same was nothing but the profit sharing ratio only.

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Additions on account of professional fees paid to a member of ...

Professional Fees to AOP Member Deemed Profit Appropriation, Not Deductible Expense; Payments Seen as Profit Distribution.

September 17, 2018

Case Laws Income Tax AT

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