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2011 (6) TMI 855 - AT - Income TaxHigher deduction u/s 80IB - Interest and Remuneration paid to Partners - AO was of the opinion that firm had not provided the interest and remuneration to the partners so as to claim higher deduction u/s 80IB on its profits - HELD THAT:- CIT(A) held that "Identical issue has been decided in the case of husband of the appellant, the other partner in firm holding 50% share for the AY 2006-07. The terms of partnership deed are not so worded so as to make payment of interest on capital and remuneration to partners as mandatory. It is also not rebutted by the AO that no interest or remuneration has been received by the appellant in earlier years also. This income has not accrued or arisen to the assessee. Therefore, the addition is deleted" In view of the above, we do not find any infirmity in the findings of the CIT(A), as the same are based on proper appreciation of the legal and factual position of the case.
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