SUB-PARTNERSHIP ::

Court :
HC

Brief :
Held by the Hon`ble Court that, Though sub partnership has not been defined either in Income-tax act or in Partnership act but the pre-requisite of exemption under the provision of section 10(2A) is that the assessee must be a partner of a firm which is separately assessed. Therefore sub-partnership entitle to exemption under section 10(2A) of Income-tax act, 1961.

Citation :
Radha Krishna Jalan Vs. C.I.T.

Section 10(2A) Radha Krishna Jalan Vs. C.I.T. 08/27/2007 [2007] 294 ITR 28 (Gauhati) Case Fact: Whether, sub-partnership entitle to exemption under section 10(2A) of Income-tax act, 1961? Decision: Held by the Hon`ble Court that, Though sub partnership has not been defined either in Income-tax act or in Partnership act but the pre-requisite of exemption under the provision of section 10(2A) is that the assessee must be a partner of a firm which is separately assessed. Therefore sub-partnership entitle to exemption under section 10(2A) of Income-tax act, 1961.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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