Inadvertent Error in Partnership Deed on Remuneration Limits Cannot Justify Disallowance: ITAT Mumbai

Bharat Paper Mart Vs ACIT (ITAT Mumbai) The appeal before the Income Tax Appellate Tribunal, Mumbai was filed by a partnership firm against an order passed by the National Faceless Appeal Centre (NFAC) dated 23 July 2025, which had upheld the assessment order issued by the Assistant Commissioner of Income Tax under Section 143(3) of the Income-tax Act, 1961 for Assessment Year 2013–14. The assessee, a partnership firm engaged in the business of dealing in paper and boards, filed its return of income on 28 September 2013 declaring total income of ₹64,96,120. In its computation, the assessee...