| COURT: | ITAT Agra |
| CORAM: | Pramod Kumar (AM) |
| SECTION(S): | 144, 184(5) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Best Judgement assessment, disallowance, firm, partners |
| COUNSEL: | Pankaj Mishra |
| DATE: | October 31, 2014 (Date of pronouncement) |
| DATE: | November 19, 2014 (Date of publication) |
| AY: | 2005-06 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Disallowance u/s 184(5) of interest, salary etc paid by a firm to partners cannot be made if the Best Judgement assessment u/s 144 is due to incompleteness of accounts & not due to failures referred to in s. 144 | |
The Tribunal had to consider whether disallowances for payments in respect of remuneration and interest on capital paid to the partners, in computation of taxable income of the firm, can be made under section 184(5) when even though assessment is …
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