https://www.taxtmi.com/caselaws?id=375270 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to delete the disallowance of Rs. 45,00,000 made on account of remuneration paid to partners of the firm. The Tribunal found that the partnership deed complied with the requirements of Section 40(b)(v) and the CBDT Circular, distinguishing the case from previous decisions. Emphasizing the principle of consistency, the Tribunal ruled in favor of the assessee, setting aside the lower authorities' findings and allowing all grounds of appeal. The decision was pronounced in the Open Court on 12th February 2019. en-us Tue, 12 Feb 2019 00:00:00 +0530 Sat, 16 Feb 2019 06:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375270 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to delete the disallowance of Rs. 45,00,000 made on account of remuneration paid to partners of the firm. The Tribunal found that the partnership deed complied with the requirements of Section 40(b)(v) and the CBDT Circular, distinguishing the case from previous decisions. Emphasizing the principle of consistency, the Tribunal ruled in favor of the assessee, setting aside the lower authorities' findings and allowing all grounds of appeal. The decision was pronounced in the Open Court on 12th February 2019. Case-Laws Income Tax Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375270