https://www.taxtmi.com/caselaws?id=61527 The appeal was allowed, and the disallowance of the claimed remuneration to working partners under section 40(b)(v) of the Income-tax Act for the assessment year 1995-96 was overturned. The Tribunal ruled in favor of the assessee, determining that the remuneration of Rs. 68,000 paid to the working partners was deductible as it complied with the partnership deed and statutory limits outlined in the Act. Additionally, the Tribunal directed the Assessing Officer to re-examine the charging of interest under section 234B of the Income-tax Act for statistical purposes. en-us Tue, 13 May 2003 00:00:00 +0530 Thu, 13 Jan 2011 11:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61527 The appeal was allowed, and the disallowance of the claimed remuneration to working partners under section 40(b)(v) of the Income-tax Act for the assessment year 1995-96 was overturned. The Tribunal ruled in favor of the assessee, determining that the remuneration of Rs. 68,000 paid to the working partners was deductible as it complied with the partnership deed and statutory limits outlined in the Act. Additionally, the Tribunal directed the Assessing Officer to re-examine the charging of interest under section 234B of the Income-tax Act for statistical purposes. Case-Laws Income Tax Tue, 13 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61527