https://www.taxtmi.com/caselaws?id=335462 The Tribunal condoned the delay in filing the appeal due to valid reasons, accepted the additional income as 'business income,' and directed the Assessing Officer to re-compute income, allowing the claim of remuneration and interest. The disallowance of remuneration under section 40(b) was held to be incorrect, granting full remuneration to the appellant. The appeal was allowed in favor of the assessee on all grounds, ensuring alignment with legal provisions and fairness in the decision. The judgment was pronounced on November 18, 2016, with detailed analysis and reasoning provided for each issue. en-us Fri, 18 Nov 2016 00:00:00 +0530 Fri, 02 Dec 2016 21:46:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335462 The Tribunal condoned the delay in filing the appeal due to valid reasons, accepted the additional income as 'business income,' and directed the Assessing Officer to re-compute income, allowing the claim of remuneration and interest. The disallowance of remuneration under section 40(b) was held to be incorrect, granting full remuneration to the appellant. The appeal was allowed in favor of the assessee on all grounds, ensuring alignment with legal provisions and fairness in the decision. The judgment was pronounced on November 18, 2016, with detailed analysis and reasoning provided for each issue. Case-Laws Income Tax Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335462