https://www.taxtmi.com/caselaws?id=423343 The Tribunal allowed the appeal filed by the assessee concerning the quantification of partners' remuneration under section 40(b)(v) of the Income Tax Act for Assessment Year 2015-16. The Tribunal found that the assessing officer's decision to accept the partnership deed's clause on partners' salaries was plausible and not prejudicial to revenue, ultimately ruling in favor of the assessee on 19.05.2022. The Tribunal emphasized the importance of avoiding double taxation on the same income and highlighted the assessing officer's reasonable interpretation of the relevant provisions. en-us Thu, 19 May 2022 00:00:00 +0530 Sat, 20 Aug 2022 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423343 The Tribunal allowed the appeal filed by the assessee concerning the quantification of partners' remuneration under section 40(b)(v) of the Income Tax Act for Assessment Year 2015-16. The Tribunal found that the assessing officer's decision to accept the partnership deed's clause on partners' salaries was plausible and not prejudicial to revenue, ultimately ruling in favor of the assessee on 19.05.2022. The Tribunal emphasized the importance of avoiding double taxation on the same income and highlighted the assessing officer's reasonable interpretation of the relevant provisions. Case-Laws Income Tax Thu, 19 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423343