2004 (4) TMI 520

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.... appeal, the assessee's only grievance is against the order of the ld. CIT(A) in upholding the assessment order where the partner's salary has been disallowed although the amended deed of partnership was produced before him at the time of rectification under section 154 of the Income-tax Act. The Assessing Officer although accepted the amended deed of partnership but did not allow the partners' sa....

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....Circular, salary and remuneration cannot be allowed in this case as because there is no quantification in the deed of partnership. But the assessee's contention is that although up to assess- ment year 1996-97 there was relaxation by the revenue but the CBDT should relax rigour of law and should not extend it when both partners are working partners merely on the point of technicalities the remuner....

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.... there right from the beginning and their share allocation is stipulated and not changed from time to time. They have also made provision vide clause 13 of the deed of partnership regarding remuneration to be paid in accordance with the provisions of the Income-tax Law at the end of the accounting year. It is also a fact that they cannot go beyond the tax laws and they are to make payment within t....