Partnership Deed Bars Interest, Remuneration Claims Under Deduction 10AA(9); Alidhra Case Precedent Applied by Tax Commissioner.

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....Deduction 10AA(9) - Interest and remuneration to partners - Claim allowable on net income or gross income - In the present case, the clauses of partnership deed specifically restrict not to charge payment of interest to partners on their capital contribution as well as remuneration. We find that ld. CIT(A) has decided the issue after proper appreciation of fact and following the decision of Alidhra Taxspin Engineers - AT....