Expenses Allowable Against Partners Salary
ALLOWABILITY OF SALARY TO PARTNER, IN CASE OF FIRM – BUSINESS EXPENDITURE No reassessment after 4 years alleging wrong allowance of exp. if assessee had disclosed all material facts Section 37(1), read with section 147, of the Income-tax Act, 1961 – Business expenditure – Allowability of salary to partner, in case of Firm Where assessment …