https://www.taxtmi.com/caselaws?id=405619 The Tribunal upheld the disallowance of partner's salary under section 40(b) of the Income Tax Act 1961 due to the partnership deed's lack of specific details on remuneration quantification. The decision affirmed by the Tribunal and based on precedents emphasized the necessity for partnership deeds to clearly outline remuneration details for partners, as required by the Act. The appeal challenging the disallowance was dismissed, supporting the AO and Ld. CIT(A)'s findings regarding the insufficiency of information in the partnership deed. en-us Tue, 23 Mar 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:08:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405619 The Tribunal upheld the disallowance of partner's salary under section 40(b) of the Income Tax Act 1961 due to the partnership deed's lack of specific details on remuneration quantification. The decision affirmed by the Tribunal and based on precedents emphasized the necessity for partnership deeds to clearly outline remuneration details for partners, as required by the Act. The appeal challenging the disallowance was dismissed, supporting the AO and Ld. CIT(A)'s findings regarding the insufficiency of information in the partnership deed. Case-Laws Income Tax Tue, 23 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405619