https://www.taxtmi.com/caselaws?id=371828 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the disallowance made by the Assessing Officer regarding the exemption claimed under section 10AA for trading turnover. The Tribunal found that the partnership deed did not provide for payment of interest and remuneration to partners, unlike a previous case where such provisions were present. As the partnership deed in the current case did not include provisions for interest and remuneration, the Tribunal dismissed the Revenue's appeal, concluding that the disallowance of deductions for interest and remuneration under section 10AA was unwarranted. en-us Fri, 26 Oct 2018 00:00:00 +0530 Wed, 12 Dec 2018 13:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371828 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the disallowance made by the Assessing Officer regarding the exemption claimed under section 10AA for trading turnover. The Tribunal found that the partnership deed did not provide for payment of interest and remuneration to partners, unlike a previous case where such provisions were present. As the partnership deed in the current case did not include provisions for interest and remuneration, the Tribunal dismissed the Revenue's appeal, concluding that the disallowance of deductions for interest and remuneration under section 10AA was unwarranted. Case-Laws Income Tax Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371828