https://www.taxtmi.com/caselaws?id=192747 The Tribunal partially allowed the appeal, ruling in favor of the partnership firm regarding the disallowance of salary to partners under section 40(b)(v) of the Income Tax Act. The Tribunal held that the remuneration paid was within permissible limits as per the Act, citing relevant judicial precedents. The grounds related to the disallowance of interest paid to partners and certain expenses were dismissed as not pressed by the assessee. Compliance with the Income Tax Act provisions and judicial precedents was emphasized in determining the allowability of expenses and partner remuneration. en-us Fri, 23 Nov 2012 00:00:00 +0530 Fri, 16 Jun 2017 17:04:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192747 The Tribunal partially allowed the appeal, ruling in favor of the partnership firm regarding the disallowance of salary to partners under section 40(b)(v) of the Income Tax Act. The Tribunal held that the remuneration paid was within permissible limits as per the Act, citing relevant judicial precedents. The grounds related to the disallowance of interest paid to partners and certain expenses were dismissed as not pressed by the assessee. Compliance with the Income Tax Act provisions and judicial precedents was emphasized in determining the allowability of expenses and partner remuneration. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192747