Claim of partner’s salary u/s 40(b) against income disclosed ...

Income Tax

July 31, 2014

Claim of partner’s salary u/s 40(b) against income disclosed during survey – at the time of survey, assessee disclosed the entire income as business income, the AO was not justified in bifurcating the same into income from other sources and income from business or profession - AT

View Source

← Previous Next →

Claim of partner’s salary u/s 40(b) against income disclosed ...

Income Tax

July 31, 2014

You may also like:

Income declared in the survey carried out u/s 133A - Disallowance of salary to partners claimed u/s.40(b) - We are confronted with a situation, in which both the source...

Disallowance u/s 40(b) - salary paid to partners - AO did not accept the amount surrendered during the survey as income from business - when the business activity of...

Claim of deduction u/s 40(b) from undisclosed income surrendered during survey - Salary / Remunaration of partners - the tax rate specified u/s. 115BBE for assessment...

Claim of deduction u/s 40(b) - amount surrendered in the course of survey U/s. 133A - working out the salary paid to the partner in terms of section 40(b) - The...

Salary to partners u/s 40(b) - such individual is not a partner of the assessee-firm in his individual capacity but he is a partner in the capacity of representative of...

Remuneration to partners - Deduction u/s 40(b) - whole income embedded in P & L account of assessee is to be taken into consideration for allowing deduction of...

Disallowance of partners’ salary from undisclosed income - deduction allowed - AT

Disallowance of remuneration paid by the assessee to its Working Partner u/s 40A(3) - Cash payment of expenditure in excess of specified limit - Scope of separate...

Unaccounted income disclosed during the course of survey - In the present case, not only one partner of the assessee made discloser of additional undisclosed income, but...

Claim of modification in salary income during the assessment proceedings - Assessee changing income and reducing income offered in the return of income without filing...

Penalty u/s 271(1)(c) - disclosure of income during survey - had it been the intention of the appellant to disclose the income voluntarily then the assessee would have...

Computation of assessee income - GP estimation - For applying section 44 AF, it is clear that the total turnover of the assessee must be less than 40 lakhs of rupees. In...

Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

Revision u/s 263 by CIT - remuneration to the partners - limit prescribed as per the Partnership Deed - Limit prescribed u/s 40(b) - in view of the supplementary...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Quick Updates: