12-01-2017
1
Remuneration paid to working partners as per the partnership deed will not be considered as unreasonable and excessive for attracting disallowance u/s 40A(2)(a) even though the same is within the statutory limit prescribed u/s 40 (b)(v) — Great City Manufacturing Co. (2013) 351 ITR 156 (All)
2
Provisions of sec 43 B do not incorporate electricity charges. Therefore, non payment of electricity charges will not attract disallowance u/s 43B —Andhra Ferro Alloys (2012) 349 ITR 255 (AP)
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