https://www.taxtmi.com/caselaws?id=424428 The appeal by the assessee was allowed, and the disallowance made under section 40A(3) of the Income Tax Act, 1961 was set aside by the Tribunal. The Tribunal held that the remuneration paid to the working partner was within the permissible limits of section 40(b) and not subject to disallowance under section 40A(3). The Tribunal referred to relevant case law and concluded that the remuneration constituted a share of profits, not an expenditure subject to section 40A(3). en-us Thu, 21 Apr 2022 00:00:00 +0530 Wed, 29 Jun 2022 21:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424428 The appeal by the assessee was allowed, and the disallowance made under section 40A(3) of the Income Tax Act, 1961 was set aside by the Tribunal. The Tribunal held that the remuneration paid to the working partner was within the permissible limits of section 40(b) and not subject to disallowance under section 40A(3). The Tribunal referred to relevant case law and concluded that the remuneration constituted a share of profits, not an expenditure subject to section 40A(3). Case-Laws Income Tax Thu, 21 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424428