SG INTERNATIONAL,KANPUR vs. INCOME TAX OFFICER-1(4),, KANPUR

In the result, the appeal of the assessee stands allowed

Bench: Shri T. S. Kapoorassessment Year:2015-16

40B(v) as the partners remuneration is duly deductible after computing the profit u/s 44AD of the I.T. Act, 1961 for assessment year 2015-16. 2. That having regard to the facts and circumstances of the case, learned CIT(A) has erred in law and on facts in confirming the decision of learned Assessing Officer in making adjustment