https://www.taxtmi.com/caselaws?id=391312 The High Court upheld the decision of the Tribunal and CIT(A) in a tax case. The Court found that the assessee firm was not obligated to charge interest or remuneration as per the partnership deed, leading to the disallowance by the AO being deemed erroneous. The Court emphasized that the mere inclusion of clauses in the partnership deed did not make them mandatory. As a result, the Revenue's appeals were dismissed, with no substantial questions of law identified. en-us Mon, 20 Jan 2020 00:00:00 +0530 Fri, 24 Jan 2020 16:12:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391312 The High Court upheld the decision of the Tribunal and CIT(A) in a tax case. The Court found that the assessee firm was not obligated to charge interest or remuneration as per the partnership deed, leading to the disallowance by the AO being deemed erroneous. The Court emphasized that the mere inclusion of clauses in the partnership deed did not make them mandatory. As a result, the Revenue's appeals were dismissed, with no substantial questions of law identified. Case-Laws Income Tax Mon, 20 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391312