ITAT upheld validity of rectified partnership deed

Neeraj Gas Movers Vs ITO (ITAT Allahabad) Introduction: In a recent case before the Income Tax Appellate Tribunal (ITAT) Allahabad, Neeraj Gas Movers challenged the disallowance of claims for salaries and interest on capital for three partners. The crux of the issue revolved around the validity of the partnership deed. While the original deed was dated 01.02.2013, the firm asserted that a rectified partnership deed dated 13.05.2013 was the valid one, as supported by the PAN issuance date. The ITAT’s decision upheld the rectified partnership deed, leading to the acceptance of the salary ...