Since the Tribunal is the final fact-finding authority has held that there is no stipulation in the partnership deed of the amount payable to the partners hence no allowance can be made under the said section. (AY. 2001-2002)
Egg Guard v. ITO (2023) 457 ITR 762/ 291 Taxman 615 /331 CTR 794/ 224 DTR 5 (Telangana)(HC)
S. 40(b)(v) : Amounts not deductible-Partner-Remuneration-Not stipulation in partnership deed-Not allowable as deduction. [S. 260A]