https://www.taxtmi.com/caselaws?id=65124 The Tribunal held that the additions made under Section 40(b) were not justified. The agreement between the assessee firm and M/s Desai & Company was deemed genuine and commercially sound. The payments to M/s Desai & Company were for legitimate business services and not to the partners of the assessee firm. Consequently, the appeals were allowed, and the additions were directed to be deleted. en-us Sat, 04 Apr 1981 00:00:00 +0530 Sat, 12 Feb 2011 14:30:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65124 The Tribunal held that the additions made under Section 40(b) were not justified. The agreement between the assessee firm and M/s Desai & Company was deemed genuine and commercially sound. The payments to M/s Desai & Company were for legitimate business services and not to the partners of the assessee firm. Consequently, the appeals were allowed, and the additions were directed to be deleted. Case-Laws Income Tax Sat, 04 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65124