AO directed not to reduce interest payable to the partners on ...

Case Laws Income Tax

March 25, 2017

AO directed not to reduce interest payable to the partners on their capital contribution and remuneration from the eligible profits for grant of deduction u/s 80IB because, it is the discretion of the assessee to pay interest and remuneration to partners or not - AT

View Source

← Previous Next →

AO directed not to reduce interest payable to the partners on ...

Case Laws Income Tax

March 25, 2017

You may also like:

Unexplained cash credit u/s 68 - cash received from partners - difference pointed out by the AO as capital introduced by both the partners of the assessee firm different...

Deduction 10AA(9) - Interest and remuneration to partners - Claim allowable on net income or gross income - In the present case, the clauses of partnership deed...

Deduction u/s 80IB - AO observed that, partner did not claim remuneration and interest on capital from the firm in order to claim the higher deduction under section...

Deduction u/section 80(IA)(10) r.w.s 10AA(9) - AO made the additions on the ground that, by giving deductions of interest on capital and remuneration to partner of the...

Unexplained capital contribution by partners – additions not confirmed - AT

Interest claimed on partners' capital contribution made to chit funds and interest claimed on payment to retired partners' outstanding balance - claim of deduction from...

Partner’s remuneration u/s 40(b) - The manner of computing the remuneration is not specified - the remuneration payable is left to future mutual agreement between the...

Interest on capital paid to the partner - payment of interest by the two partnership firms towards use of partners’ capital - Expenditure incurred on account of...

Determination of remuneration paid to partner - working / retiring partner - the firm has incorporated the terms of section 40(b), providing for the maximum amount of...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Claim of interest paid to partners as deduction - interest on outstanding amount of remuneration - The deduction of interest paid can only be permitted if the assessee...

Remuneration paid to partners - remuneration is not specified - manner of computing the remuneration is not specified - remuneration payable is left to future mutual...

Remuneration to partners - where the partner is working partners and remuneration provided is within the limits prescribed u/s 40(b)(v), AO cannot disallow any part of...

Addition u/s 68 in the hands of partnership firm - capital introduced by five partners, which in turn was out of the loan advanced - The Appellate Tribunal (AT) examined...

Disallowance of remuneration paid to the partners of the assessee firm - Once the remuneration paid to the partners is in accordance of the provisions of Section...

Quick Updates: