https://www.taxtmi.com/caselaws?id=56366 The Tribunal upheld the disallowance of a partnership firm's salary payment to a partner under Section 40(b) of the Income Tax Act, 1961. The Tribunal ruled that salary payments to partners are disallowable, following the binding precedent set by the Gujarat High Court, which distinguished between interest and salary payments to partners. Despite the firm's argument citing other court decisions, the Tribunal emphasized the relevance of the Gujarat High Court's decision and dismissed the appeal, affirming the disallowance of the salary payment. en-us Wed, 14 Dec 1988 00:00:00 +0530 Fri, 03 Dec 2010 12:49:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56366 The Tribunal upheld the disallowance of a partnership firm's salary payment to a partner under Section 40(b) of the Income Tax Act, 1961. The Tribunal ruled that salary payments to partners are disallowable, following the binding precedent set by the Gujarat High Court, which distinguished between interest and salary payments to partners. Despite the firm's argument citing other court decisions, the Tribunal emphasized the relevance of the Gujarat High Court's decision and dismissed the appeal, affirming the disallowance of the salary payment. Case-Laws Income Tax Wed, 14 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56366