Dismissing the appeal of the assessee the Court held that the presumptive taxation is not applicable to interest and remuneration received by a partner from a partnership firm . ( TCA No. 388 of 2019 dt 23 -12- 2020) (AY. 2012 -13)
AnandKumar v .ACIT ( 2021) The Chamber’s Journal – January -P 113 ( Mad ) (HC)
S. 44AD :Presumptive taxation- Presumptive taxation is not applicable to interest and remuneration received by a partnership firm [ S.28(v), 40(b) ]