Remuneration to Partners cannot be disallowed for lack of notarised deed: ITAT Ahmedabad

U.N. Corporation Vs DCIT (ITAT Ahmedabad)

Assessee   had changed the terms of payment of remuneration to its partners as agreed to in the original partnership deed. While the original terms agreed to, required remuneration to be paid to the extent allowable u/s.40(b) @ 25% each to all the four partners of the assessee firm,   assessee  paid remuneration only to two partners, with one of the partner getting 75% share & the other getting 25% share.  Partnership deed contained clause stating that any change in terms of payment of remuneration to partners was to be provided f

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