AdvertisementMahalaxmi Jewellers Vs ITO (ITAT Panaji)Panaji ITAT: Same Partner Remuneration Cannot Be Taxed Twice – ₹2.98 Lakh Addition in Firm Deleted Where Amount Already Taxed in Partner’s HandsThe Panaji ITAT in M/s Mahalaxmi Jewellers v. ITO dealt with an important case of double taxation of partner remuneration for AY 2013-14. Its profit & loss account reflected net profit of ₹1.85 lakh after claiming ₹4.96 lakh as remuneration to partners. Since no return had been filed, the AO disallowed the entire partner remuneration and assessed income at ₹6.81 lakh, comprising ₹1.85 lakh of net profit and ₹4.96 lakh of disallowed remuneration. FULL TEXT OF THE ORDER OF ITAT PANAJIThis appeal filed by the assessee is directed against the order dated 28.10.2025 passed by Ld. In the result, the appeal filed by the assessee is partly allowed.