Deduction u/s 40(b)(v) - deduction of the amount of remuneration ...

High Court Upholds ITAT Decision: Deduction for Partner Remuneration Disallowed Due to Missing Provisions in Partnership Deed.

December 28, 2022

Case Laws Income Tax HC

Deduction u/s 40(b)(v) - deduction of the amount of remuneration paid to the partners - the appellant has to be authorized by the partnership deed and the same has to be in accordance with the terms of the partnership deed. Referring to the partnership deed constituting the appellant, Tribunal held that the partnership deed did not contain any terms for payment to the working partners. - Additions made by ITAT confirmed - HC

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Deduction u/s 40(b)(v) - deduction of the amount of remuneration ...

High Court Upholds ITAT Decision: Deduction for Partner Remuneration Disallowed Due to Missing Provisions in Partnership Deed.

December 28, 2022

Case Laws Income Tax HC

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