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2018 (7) TMI 949 - AT - Income TaxDisallowance of remuneration paid to partners - method of prescribed under the Provisions of Section 40(b)(v) - Held that:- In the present case, the Hon’ble Delhi High Court’s decision in case of Vaish Associates [2015 (8) TMI 855 - DELHI HIGH COURT] will be applicable. The Clause mentioned in Vaish Associates case is in toto similar in the present case for partnership deed relating to remuneration of the partners. Therefore, in light of this the CIT(A) as well as the Assessing Officer has not taken a proper cognizance of the Clauses given under the partnership deed in consonance with the provisions of Section 40(b)(v) of the Act. Therefore, we set aside the order of the CIT(A). The appeal of the assessee is allowed.
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