https://www.taxtmi.com/caselaws?id=374538 The tribunal upheld the decision to deny the appellant the benefit of section 44AD of the Income-tax Act for estimating income on remuneration and interest received from firms. The tribunal clarified that such payments to partners do not qualify as business income under section 44AD, emphasizing the section's intent to aid small businesses in tax compliance rather than encompass partner remuneration or interest. The tribunal found the appellant's arguments citing relevant legal provisions and judgments as not directly applicable, ultimately dismissing the appeal on January 30, 2019, in Chennai. en-us Wed, 30 Jan 2019 00:00:00 +0530 Mon, 04 Feb 2019 07:05:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374538 The tribunal upheld the decision to deny the appellant the benefit of section 44AD of the Income-tax Act for estimating income on remuneration and interest received from firms. The tribunal clarified that such payments to partners do not qualify as business income under section 44AD, emphasizing the section's intent to aid small businesses in tax compliance rather than encompass partner remuneration or interest. The tribunal found the appellant's arguments citing relevant legal provisions and judgments as not directly applicable, ultimately dismissing the appeal on January 30, 2019, in Chennai. Case-Laws Income Tax Wed, 30 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374538