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2022 (6) TMI 943 - AT - Income TaxDisallowance in respect of partner’s remuneration and interest on partner’s capital - HELD THAT:- We find that the sole reason for disallowance of the partner’s remuneration as well as interest on partner’s capital is on account of non–furnishing of the partnership deed, during the course of assessment proceedings, at the same time, it is the matter of record that the assessee has duly filed the copy of the partnership deed, with the return of income for A.Y. 2006–07 and which is available as part of the assessment records with the Assessing Officer. Given the statement of the ld. AR at the Bar that there has been no change in the constitution or contents of the partnership deed and taking into account, the entirety of facts and circumstances of the case, we hereby direct the deletion of partner’s remuneration as well as interest on the partner’s capital account. - Appeal of assessee allowed.
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