2015 (5) TMI 1193

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..... er of the learned CIT(A)-I, dated 1.8.2014. The ground of appeal reads as under :- "1. The learned CIT(A), Ujjain, has erred in confirming the addition of Rs. 1,49,052/- made by the learned Assessing Officer towards estimation of income of the assessee even after placing all materials before him. 2. The assessee is a partnership firm deriving income from wholesale and retail business of sare .....

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..... ared was business income and as per the terms of partnership deed, the partners were entitled to higher remuneration on enhanced income. Therefore, the revenue authorities were not justified in making addition by not allowing remuneration to partners as per section 40(b)(v) of the Act. 5. I have heard both the sides. The amount of Rs. 4 lacs disclosed during the course of survey was on the basis .....

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