https://www.taxtmi.com/caselaws?id=281628 The Appellate Tribunal dismissed the Revenue's appeals for the Assessment Years 2013-14 and 2014-15. The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the disallowance of deductions under Section 80(IA) r.w.s. 10AA(9) for interest on Capital and Remuneration to partners. This was based on the absence of clauses in the partnership deed requiring such payments, distinguishing this case from previous precedents cited by the Revenue. The Tribunal concluded that the firm could not be compelled to provide interest and remuneration to partners, resulting in the denial of the claimed deductions. en-us Fri, 26 Oct 2018 00:00:00 +0530 Fri, 28 Jun 2019 10:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281628 The Appellate Tribunal dismissed the Revenue's appeals for the Assessment Years 2013-14 and 2014-15. The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the disallowance of deductions under Section 80(IA) r.w.s. 10AA(9) for interest on Capital and Remuneration to partners. This was based on the absence of clauses in the partnership deed requiring such payments, distinguishing this case from previous precedents cited by the Revenue. The Tribunal concluded that the firm could not be compelled to provide interest and remuneration to partners, resulting in the denial of the claimed deductions. Case-Laws Income Tax Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281628