COMMISSIONER OF INCOME TAX-XIII Vs. VAISH ASSOCIATES

JUDGEMENT

(1.) THIS appeal under Section 260A of the Income Tax Act, 1961 ('Act') by the Revenue is directed against an order dated 5th July 2013 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 1382/Del/2012 for the Assessment Year ('AY') 2009 -10.

(2.) THE first issue sought to be projected by the Revenue in this appeal is whether the ITAT was correct in law in deleting the addition of Rs.6,05,91,909 made by the Assessing Officer ('AO') to the income of the Respondent Assessee firm on the ground that the remuneration paid to the partners of the Respondent Assessee firm was not in accordance with the provision of Section 40(b) (v) of the Act.

(3.) CLAUSE 6(a) of the said deed read as under: