https://www.taxtmi.com/caselaws?id=448289 A short delay of 38 days in filing the appeal was condoned because it was supported by affidavit, explained by the assessee's efforts to obtain legal advice, and showed no mala fides or prejudice to the revenue. On the substantive issue, deduction under section 10AA could not be reduced by adding notional interest on partners' capital or notional partners' remuneration where the operative supplementary partnership deed did not require such payments. The tribunal treated those items as non-compulsory under the governing deed and deleted the addition, granting the assessee relief on the principal deduction issue. en-us Mon, 18 Sep 2023 00:00:00 +0530 Tue, 16 Jan 2024 08:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448289 A short delay of 38 days in filing the appeal was condoned because it was supported by affidavit, explained by the assessee's efforts to obtain legal advice, and showed no mala fides or prejudice to the revenue. On the substantive issue, deduction under section 10AA could not be reduced by adding notional interest on partners' capital or notional partners' remuneration where the operative supplementary partnership deed did not require such payments. The tribunal treated those items as non-compulsory under the governing deed and deleted the addition, granting the assessee relief on the principal deduction issue. Case-Laws Income Tax Mon, 18 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448289