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TMI Blog2018 (12) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... cts and circumstances. In the present case the appellant has not charged any interest and remuneration as per partnership deed therefore, the appellant firm cannot be compelled to charge interest or rumuneration. Therefore, we are inclined to hold the CIT(A) was right in observing that the disallowance made by the AO on account of non provision of interest and remuneration of s.10AA deduction is erroneous and incorrect and law and facts as in the peculiar facts of the present case the partnership deed clearly lays down that no interest and remuneration is payable and hence, the first appellate authority right in deleting the disallowance made by the AO on account of non provision of interest and remuneration from amount of deduction u/s. 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee firm after finding that the assessee had taken undue benefits of Section10AA by not claiming Interest on Capital and Remuneration to partners which resulted increase in exempted profit of the assessee? 3. Whether on the fact and circumstance of the case and in law, the Ld.CIT(A) is justified in not appreciating the fact that by not providing interest and remuneration to the partners, the firm has claimed higher profits leading to higher claim of deduction u/s 10AA of the Act and thus, devoiding the revenue from due amount of tax? 4. On the facts and circumstances of the case, the Ld. CIT(A) ought to have upheld the order of the assessing officer. 5. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A). 6. On careful consideration of above submissions of ld. DR and contentions of the assessee before the authorities below, from the relevant operative part of first appellate order, especially paras 6.1.3 & 6.1.4, we observe that the AO has relied on the order of ITAT, Rajkot Bench in the case of Meridian Impex 37 taxmann.com 22 (2013) but the facts of that case are different from the facts and circumstances of the present case as in that case there was a specific loss in the partnership deed regarding payment of interest on capital and partner's remuneration in the original partnership deed submitted during scrutiny proceedings. Subsequently, a supplementary/addenda to said partnership deed was made amending the said clause providin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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