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2015 (5) TMI 1193 - AT - Income TaxPartners entitlement to higher remuneration on enhanced income - Estimation of income by allowing the remuneration to partners on the declared income during the survey operation - as per AO this income was from undisclosed sources over and above the business income for the particular year - HELD THAT:- The amount of ₹ 4 lacs disclosed during the course of survey was on the basis of excess stock found and loose papers relating to business found during survey operation. Thus, both these aspects on the basis of which disclosure was made were relating to the business of the assessee. Whatever income was declared was related to the business of the assessee and it was assessee’s business income. The assessee shall be entitled to pay remuneration to its partners as per clauses of partnership deed. Therefore, we allow this ground of appeal of the assessee.
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