https://www.taxtmi.com/caselaws?id=361388 The tribunal ruled in favor of the assessee, allowing the appeal regarding the disallowance of excess remuneration under section 40(b) of the Income Tax Act. The tribunal held that the partnership deed explicitly allowed for determining remuneration based on the amended provisions of section 40(b) for the relevant year. As a result, the tribunal reversed the lower authorities' decision and permitted the assessee to claim the maximum allowable remuneration for partners. en-us Thu, 31 May 2018 00:00:00 +0530 Wed, 06 Jun 2018 20:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361388 The tribunal ruled in favor of the assessee, allowing the appeal regarding the disallowance of excess remuneration under section 40(b) of the Income Tax Act. The tribunal held that the partnership deed explicitly allowed for determining remuneration based on the amended provisions of section 40(b) for the relevant year. As a result, the tribunal reversed the lower authorities' decision and permitted the assessee to claim the maximum allowable remuneration for partners. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361388