https://www.taxtmi.com/caselaws?id=350103 The ITAT allowed the appeal for statistical purposes regarding the disallowance of interest payment to financial institutions, directing the AO to verify tax payments by the recipient institutions. However, the appeal was dismissed concerning the disallowance of excessive remuneration to a partner and the addition of interest income from M/s Yash Pharma. The ITAT upheld the decisions of the CIT(A) on these issues, emphasizing adherence to partnership deed terms and the accrual basis of taxation. Grounds 4 and 5 were dismissed for lack of arguments. en-us Wed, 25 Oct 2017 00:00:00 +0530 Tue, 31 Oct 2017 14:47:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350103 The ITAT allowed the appeal for statistical purposes regarding the disallowance of interest payment to financial institutions, directing the AO to verify tax payments by the recipient institutions. However, the appeal was dismissed concerning the disallowance of excessive remuneration to a partner and the addition of interest income from M/s Yash Pharma. The ITAT upheld the decisions of the CIT(A) on these issues, emphasizing adherence to partnership deed terms and the accrual basis of taxation. Grounds 4 and 5 were dismissed for lack of arguments. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350103