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2020 (1) TMI 925 - HC - Income TaxExemption u/s. 10AA - total income to be computed as per the provisions of section 29 to 43D after allowing all eligible deductions whether or claimed suo-moto by the assessee or not? - ITAT is right in upholding the decision of Ld. CIT(A) in deleting the disallowance made by the Assessing Officer - HELD THAT:- Tribunal concurred with the finding recorded by the CIT (A) that the assessee firm had not charged any interest and remuneration in accordance with the partnership deed and, in such circumstances, the assessee firm cannot be compelled to charge interest or remuneration, more particularly, when the partnership deed does not prescribe for the same. The Tribunal concurred with the finding recorded by the CIT (A) that the disallowance made by the AO on account of non provision of interest and remuneration could not have been disallowed under Section 10AA(9) of the Act. The issue stands squarely covered by the decision of this Court in the case of Principal Commissioner of Income Tax vs. Alidhara Taxspin Engineers & Anr. [2017 (5) TMI 1684 - GUJARAT HIGH COURT] Applying the dictum as laid in Alidhara Taxspin Engineers (supra), we are in complete agreement with the findings recorded by the Tribunal in the impugned order - Decided against revenue.
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