https://www.taxtmi.com/caselaws?id=414195 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on disallowances under sections 40(a)(ia) and 40(b) of the Income Tax Act, 1961. It was ruled that the assessee was not liable for TDS deduction on testing charges reimbursed to the Government and that interest income from fixed deposits could be considered as part of partner remuneration. The judgment underscored the significance of proper documentation and adherence to legal requirements in tax affairs, stressing the necessity of substantiating deductions and allowances under the Act. en-us Mon, 25 Oct 2021 00:00:00 +0530 Fri, 29 Oct 2021 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414195 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on disallowances under sections 40(a)(ia) and 40(b) of the Income Tax Act, 1961. It was ruled that the assessee was not liable for TDS deduction on testing charges reimbursed to the Government and that interest income from fixed deposits could be considered as part of partner remuneration. The judgment underscored the significance of proper documentation and adherence to legal requirements in tax affairs, stressing the necessity of substantiating deductions and allowances under the Act. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414195