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Income Tax | Section 50 Deeming Fiction Cannot Reduce Book Profit Under Section 40(b): ITAT Mumbai

5 Oct 2026 · 5 Oct 2026By CA Sandeep KanoiSource: TaxGuru

ITAT Mumbai allowed ₹99.02 lakh partners’ remuneration, holding shop-sale profit forms part of book profit despite section 50 capital-gains treatment. The post Section 50 Deeming Fiction Cannot Reduce Book Profit Under Section 40(b): ITAT Mumbai appeared first on TaxGuru .

Attribution

Original credit: CA Sandeep Kanoi. This digest is published with acknowledgment to TaxGuru. For the complete analysis, headnotes, and citations, please refer to the source.

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