Tag: partners remuneration
Assessing Officer was wrong to disbelieve partnership rectification deed when stamp paper was issued on a prior date – ITAT ABCAUS Case Law Citation:ABCAUS 3801 (2023) (09) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A)/NFAC in confirming the action of Assessing …
For computing allowable partners remuneration u/s 40(b) AO can not allocate net profit into different heads to exclude interest incomeĀ ABCAUS Case Law CitationABCAUS 3413 (2020) (10) ITAT Important case law relied upon by the parties:CIT V/s J. J. Industries (2013) 358 ITR 531Md. Serajuddin & Bros. vs. …
Remuneration paid to partners cannot be disallowed for want of registration of firm. There is no requirement that partnership firm should be registered under the Partnership Act. ABCAUS Case Law Citation:ABCAUS 3136 (2019) (09) ITAT The appeal of the assessee was directed against the order of the Commissioner …