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Partner Remuneration To Be Calculated On Book Profit After Adding Back Survey Income And Disallowances: ITAT [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) ruled on the issue of remuneration to partners under Section 40(b) of the Income Tax Act,...
![Relief to Muthoot Bankers: ITAT Allows ₹5L Interest Deduction u/s 40(b) as Payment was within 12% Limit and Authorized by Partnership Deed [Read Order]](https://images.taxscan.in/h-upload/2025/06/27/250x150_2055218-relief-to-muthoot-bankers-muthoot-bankers-itat-interest-deduction-taxscan.webp "Relief to Muthoot Bankers: ITAT Allows ₹5L Interest Deduction u/s 40(b) as Payment was within 12% Limit and Authorized by Partnership Deed [Read Order]")
![Win for Deloitte: Madras HC Rules Firms and HUFs Cannot Be Partners in a Firm, Quashes PCIT Order Disallowing Partner Remuneration [Read Order]](https://images.taxscan.in/h-upload/2025/06/16/250x150_2045458-deloitte-win-taxscan.webp "Win for Deloitte: Madras HC Rules Firms and HUFs Cannot Be Partners in a Firm, Quashes PCIT Order Disallowing Partner Remuneration [Read Order]")
![Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Excess-interest-paid-to-partners-mistake-in-Tax-Audit-Report-ITAT-Readjudication-taxscan.jpg "Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]")
![Remuneration Paid to Partner Exceeding the Limit specified in Deed can’t be disallowed If the Deed permits Salary Hike: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Remuneration-Taxscan.jpg "Remuneration Paid to Partner Exceeding the Limit specified in Deed can’t be disallowed If the Deed permits Salary Hike: ITAT [Read Order]")
Salary Paid to Partners can be Deducted from Amount Surrendered to Dept If such Amount was shown as Business Income: Bombay HC [Read Judgment]
A division bench of the Bombay High Court, in M/s Bagdi Enterprises v. ITO, Nagpur, held that a Firm can claim a deduction of salary paid to partners on amount surrendered to the department if such...
![Salary Paid to Partners can be Deducted from Amount Surrendered to Dept If such Amount was shown as Business Income: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Salary Paid to Partners can be Deducted from Amount Surrendered to Dept If such Amount was shown as Business Income: Bombay HC [Read Judgment]")