https://www.taxtmi.com/caselaws?id=294360 The Tribunal allowed the appeal, directing the deletion of the disallowance of expenses claimed against remuneration received from the partnership firm. It emphasized that the expenditure was incurred wholly and exclusively for business purposes, supporting the assessee's position that partner's remuneration should be considered as business income. The Tribunal found that the expenses, including salary, communication, insurance, and car depreciation, were related to the business income, and thus, the disallowance was not justified. Consequently, both grounds of appeal were allowed, and the appeal of the assessee was successful. en-us Wed, 28 Oct 2020 00:00:00 +0530 Wed, 07 Apr 2021 21:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294360 The Tribunal allowed the appeal, directing the deletion of the disallowance of expenses claimed against remuneration received from the partnership firm. It emphasized that the expenditure was incurred wholly and exclusively for business purposes, supporting the assessee's position that partner's remuneration should be considered as business income. The Tribunal found that the expenses, including salary, communication, insurance, and car depreciation, were related to the business income, and thus, the disallowance was not justified. Consequently, both grounds of appeal were allowed, and the appeal of the assessee was successful. Case-Laws Income Tax Wed, 28 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294360