https://www.taxtmi.com/caselaws?id=384856 The Tribunal dismissed the appeal, ruling that the disallowance of remuneration to partners was valid under section 40(b) of the Income Tax Act. The partnership deed did not specify the remuneration amount as required by law. The resolution increasing partner salaries was deemed inadmissible due to lack of evidence and non-compliance with legal formalities. The Tribunal upheld the applicability of Board Circular No. 739, emphasizing the importance of proper documentation and compliance with partnership and income tax laws. The decision was pronounced on April 10, 2019. en-us Wed, 10 Apr 2019 00:00:00 +0530 Mon, 26 Aug 2019 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384856 The Tribunal dismissed the appeal, ruling that the disallowance of remuneration to partners was valid under section 40(b) of the Income Tax Act. The partnership deed did not specify the remuneration amount as required by law. The resolution increasing partner salaries was deemed inadmissible due to lack of evidence and non-compliance with legal formalities. The Tribunal upheld the applicability of Board Circular No. 739, emphasizing the importance of proper documentation and compliance with partnership and income tax laws. The decision was pronounced on April 10, 2019. Case-Laws Income Tax Wed, 10 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384856