Supreme Court · 1997 INSC 801 · Decided 9 December 1997
Rashik Lal and CO. v. Commissioner of Income Tax, Orissa
- Court
- Supreme Court of India
- Citation
- 1997 INSC 801 · [1997] SUPP. 6 S.C.R. 331
- Case number
- CIVIL APPEAL No. 4589/1992
- Decided
- 9 December 1997
- Bench
- S.C. SEN, S. SAGHIR AHMAD (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 40, 40(b), 256(1)
Headnote
B Income Tax Act, 1961 : Section 40(b ). Income Tw.--Pwtnership finn-AY 1980-81--Commission paid-To a parlner as a member of HUF-Deductibility of-From income of Jinn-Held: C Not deductible-Furthe1; HUF cannot itself become a partner of a finn-Pa1tnership Act. 1932, Ss.4, 13 and 14. The of businesses including mining. There was an agreement between the appellant and the firm th.at the D appellant would receive a certain amount per tonne of the mineral sold by the firm. In the assessment year 1980-81 the appellant-assessee received a certain amount as commission. The firm
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