https://www.taxtmi.com/caselaws?id=271487 The Tribunal dismissed the Revenue's appeal and the Assessee's Cross-Objections regarding the addition of remuneration to partners for the assessment year 2003-04. The dispute revolved around the validity of the reassessment and the nature of the undisclosed income from construction activity. The Tribunal upheld the CIT(A)'s decision, allowing partners' remuneration from the additional business income disclosed during the survey as it constituted business income. The decision was supported by legal precedents and the interpretation of relevant tax provisions, leading to the dismissal of both appeals. en-us Fri, 01 Jan 2016 00:00:00 +0530 Sun, 07 Feb 2016 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271487 The Tribunal dismissed the Revenue's appeal and the Assessee's Cross-Objections regarding the addition of remuneration to partners for the assessment year 2003-04. The dispute revolved around the validity of the reassessment and the nature of the undisclosed income from construction activity. The Tribunal upheld the CIT(A)'s decision, allowing partners' remuneration from the additional business income disclosed during the survey as it constituted business income. The decision was supported by legal precedents and the interpretation of relevant tax provisions, leading to the dismissal of both appeals. Case-Laws Income Tax Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271487