Is disallowance of interest on capital and working partner salary automatic in best judgment assessments under section 144?

CA V.K. Subramani

Section 184(5) says that where there is failure on the part of a firm as is mentioned in section 144, the firm shall be assessed without deduction of interest, salary, bonus, commission or remuneration in computing the income chargeable under the head 'Profits and gains of business or profession'. The sum so not allowed in the assessment of firm shall not be taxed in the hands of partners under clause (v) of section 28.