https://www.taxtmi.com/caselaws?id=206611 The court dismissed the appeal, ruling in favor of the Revenue, as the remuneration paid to partners was found not to comply with the requirements of Section 40(b)(v) of the Income Tax Act. The court emphasized that the partnership deed did not adequately specify the remuneration amount or computation method, leading to the conclusion that the payment was not authorized as per the deed. The court distinguished this case from a precedent where the partnership deed clearly outlined the remuneration terms, ultimately resulting in the dismissal of the appeal with no cost orders. en-us Fri, 04 Nov 2011 00:00:00 +0530 Wed, 09 Nov 2011 06:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206611 The court dismissed the appeal, ruling in favor of the Revenue, as the remuneration paid to partners was found not to comply with the requirements of Section 40(b)(v) of the Income Tax Act. The court emphasized that the partnership deed did not adequately specify the remuneration amount or computation method, leading to the conclusion that the payment was not authorized as per the deed. The court distinguished this case from a precedent where the partnership deed clearly outlined the remuneration terms, ultimately resulting in the dismissal of the appeal with no cost orders. Case-Laws Income Tax Fri, 04 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206611