No reassessment just because firm didn’t pay interest amp; remuneration to partner if same wasn’t mandatory as per deed

INCOME TAX : Where assessment in case of assessee-firm was sought to be reopened on ground that, assessee had claimed excessive deductions under section 80-IB(10), without providing interest on capital and remunerations to partners for respective years under consideration, however, record indicated that interest and remuneration was not to be paid to partners mandatorily, reopening was unjustified

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000315665/no-reassessment-just-because-firm-didn’t-pay-interest-amp-remuneration-to-partner-if-same-wasn’t-mandatory-as-per-deed.aspx