https://www.taxtmi.com/caselaws?id=417574 The appeal challenged the disallowance of partner's remuneration under section 40(b) of the Income Tax Act, 1961. The AO disallowed the remuneration as it was not specified in the Partnership Deed. The Ld. CIT(A) upheld this decision, citing a CBDT circular. The tribunal affirmed the disallowance, emphasizing the necessity of adhering strictly to partnership deed terms for remuneration. Without written agreement on remuneration, the appeal was dismissed, highlighting the importance of documenting remuneration terms to claim deductions under section 40(b) and the reliance on judicial precedents in tax law interpretation. en-us Tue, 18 Jan 2022 00:00:00 +0530 Thu, 27 Jan 2022 08:41:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417574 The appeal challenged the disallowance of partner's remuneration under section 40(b) of the Income Tax Act, 1961. The AO disallowed the remuneration as it was not specified in the Partnership Deed. The Ld. CIT(A) upheld this decision, citing a CBDT circular. The tribunal affirmed the disallowance, emphasizing the necessity of adhering strictly to partnership deed terms for remuneration. Without written agreement on remuneration, the appeal was dismissed, highlighting the importance of documenting remuneration terms to claim deductions under section 40(b) and the reliance on judicial precedents in tax law interpretation. Case-Laws Income Tax Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417574