https://www.taxtmi.com/caselaws?id=339387 The Tribunal partially allowed the appeal, ruling that the disallowance of remuneration under Section 40(b) was unjustified and the reopening of proceedings was impermissible. It held that the remuneration paid to partners was compliant with the Partnership Deed and Section 40(b)(v), making it deductible. The Tribunal emphasized that the Circular issued by the CBDT could not override statutory provisions, and the Assessing Officer's disallowance was unsustainable based on legal principles from cited judgments. en-us Fri, 17 Feb 2017 00:00:00 +0530 Sat, 25 Feb 2017 14:38:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339387 The Tribunal partially allowed the appeal, ruling that the disallowance of remuneration under Section 40(b) was unjustified and the reopening of proceedings was impermissible. It held that the remuneration paid to partners was compliant with the Partnership Deed and Section 40(b)(v), making it deductible. The Tribunal emphasized that the Circular issued by the CBDT could not override statutory provisions, and the Assessing Officer's disallowance was unsustainable based on legal principles from cited judgments. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339387