The Income Tax Appellate Tribunal (ITAT), Mumbai has held that the payment made to the legal heirs of deceased partners towards share in goodwill is allowable as a deduction under the Income Tax Act, 1961 since the revenue, in the earlier years, had allowed the same. During the course of the assessment proceedings, the Assessing […]
The post Share in Goodwill paid to Legal Heirs of Deceased Partners allowable as Deduction: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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