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TMI Blog2018 (8) TMI 2082X X X X Extracts X X X X X X X X Extracts X X X X ..... ising at the Hon ble Supreme Court of India - AO opined that the partnership firm can legitimately claim deduction on account of interest and salary to partners subject to the limits u/s 40(b) of the Act and, hence, such expenses incurred were not deductible - HELD THAT:- Similar disallowance of Rs.6 lac was made by the Assessing Officer in the assessment for the immediately preceding assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .S. SYAL, VICE PRESIDENT AND SHRI JOGINDER SINGH, JUDICIAL MEMBER Assessee By : Shri Vikas Madan, Advocate Department By : Shri Arun Kumar Yadav, Sr. DR ORDER PER R.S. SYAL, VP: This appeal filed by the assessee arises out of the order passed by the CIT (A) on 28.05.2015 in relation to the assessment year 2011-12. 2. The only issue raised in this appeal is against th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... artner and not the assessee firm. The Assessing Officer opined that the partnership firm can legitimately claim deduction on account of interest and salary to partners subject to the limits u/s 40(b) of the Act and, hence, such expenses incurred were not deductible. He, therefore, made disallowance of Rs.6 lac, which came to be affirmed in the first appeal. 4. Having heard both the sides and pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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