https://www.taxtmi.com/caselaws?id=797609 Reassessment notices alleging undisclosed interest on capital and partner remuneration were invalid where the partnership deeds made such payments contingent on mutual agreement rather than mandatory. The amended deed expressly provided that no interest on partners' capital was payable, and no material established actual receipt of interest or remuneration. Treating amounts as necessarily payable merely because earlier deed clauses contemplated them was erroneous. The reopening basis, also found legally unsustainable in the firm's assessments, lacked jurisdiction; the reassessment notices were quashed. en-us Wed, 19 Aug 2026 00:00:00 +0530 Tue, 25 Aug 2026 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797609 Reassessment notices alleging undisclosed interest on capital and partner remuneration were invalid where the partnership deeds made such payments contingent on mutual agreement rather than mandatory. The amended deed expressly provided that no interest on partners' capital was payable, and no material established actual receipt of interest or remuneration. Treating amounts as necessarily payable merely because earlier deed clauses contemplated them was erroneous. The reopening basis, also found legally unsustainable in the firm's assessments, lacked jurisdiction; the reassessment notices were quashed. Case-Laws Income Tax Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797609