https://www.taxtmi.com/caselaws?id=331999 The Tribunal allowed the appeal of the assessee, permitting the deduction of Rs. 17,04,950 claimed towards interest on capital and salary to partners. The disallowance under section 40(b) was deemed unjustified as the unaccounted income was solely from the assessee's construction business activities. The Tribunal referenced relevant case law supporting the inclusion of such income for partner remuneration, ultimately ruling in favor of the assessee. en-us Thu, 28 Jul 2016 00:00:00 +0530 Mon, 05 Sep 2016 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331999 The Tribunal allowed the appeal of the assessee, permitting the deduction of Rs. 17,04,950 claimed towards interest on capital and salary to partners. The disallowance under section 40(b) was deemed unjustified as the unaccounted income was solely from the assessee's construction business activities. The Tribunal referenced relevant case law supporting the inclusion of such income for partner remuneration, ultimately ruling in favor of the assessee. Case-Laws Income Tax Thu, 28 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331999