https://www.taxtmi.com/caselaws?id=185385 The Tribunal dismissed the Revenue's appeals, upholding the CIT (Appeals) decision regarding the deduction under section 80IC. The Tribunal found that the non-payment of salary and interest to partners did not result in more than ordinary profits for the assessee, and therefore, the deduction claimed was allowed. Additionally, the Tribunal interpreted Section 80IA(10) to conclude that the non-payment of remuneration and interest did not affect the assessee's profits under this section. Both appeals of the Revenue were ultimately dismissed based on these findings. en-us Thu, 24 Nov 2011 00:00:00 +0530 Wed, 10 Aug 2016 17:19:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185385 The Tribunal dismissed the Revenue's appeals, upholding the CIT (Appeals) decision regarding the deduction under section 80IC. The Tribunal found that the non-payment of salary and interest to partners did not result in more than ordinary profits for the assessee, and therefore, the deduction claimed was allowed. Additionally, the Tribunal interpreted Section 80IA(10) to conclude that the non-payment of remuneration and interest did not affect the assessee's profits under this section. Both appeals of the Revenue were ultimately dismissed based on these findings. Case-Laws Income Tax Thu, 24 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185385