No reassessment to disallow pension paid to retiring partner which was authorized by partnership deed; SLP dismissed

INCOME TAX: SLP dismissed against ruling that where assessee, a partnership firm, made payment of certain sum as pension to retiring partners as per partnership deed and same was allowed in original assessment, and all necessary facts duly disclosing that there was no failure on part of assessee to disclose primary facts, were already on record, reassessment to disallow said payment was unjustified

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