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2018 (5) TMI 1383 - AT - Income TaxValidity of re-assessment proceedings - remuneration paid to the three members were disallowed - case reopened after the end of four years from the relevant assessment year - Held that:- There is no failure on the part of assessee in furnishing full and true disclosure of the information. The assessment U/s. 143(3) was completed after survey proceedings on the assessee’s business premises. In view of that, it cannot be stated that assessee has not disclosed any information. The remuneration to the members of the HUF were paid for the services rendered in the business which is allowable U/s. 37(1) and invoking the provisions of Section 184 and Section 40(b) does not arise on the facts of the case at all. In view of that, the action of AO in reopening assessment per se is bad in law. In view of that, we find no merit in Revenue grounds raised. - Decided in favour of assessee.
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