Partners Remuneration cannot be disallowed as excessive if within the limit prescribed under the Partnership deed and

Issues :- Whether the provisions of section 40A can be applied, in case the section 40(b) had already been applied – Whether when the partnership deed is complete with regard to all the details regarding remuneration and salary etc, disallowance can be made on the basis that it was excessive – Whether remuneration to partners should be allowed u/s 40(b)(v) only on the basis of declaration made in the partnership deed.

Held – It was noticed that all the three partners to whom the impugned remuneration was paid

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