https://www.taxtmi.com/caselaws?id=299872 The Tribunal held that the AO's assessment order was not erroneous or prejudicial to revenue. The classification of sundry income as business income was upheld, allowing deductions for partner's salary. The deductibility of PWC Global Services Charges was justified due to their essential nature for the business. The Accountant Risk Policy Premium was deemed allowable as it directly related to the business. The adequacy of the AO's inquiry was affirmed, leading to the quashing of the CIT's order and allowing the Assessee's appeals in both cases. en-us Wed, 11 May 2016 00:00:00 +0530 Mon, 03 Jan 2022 08:25:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299872 The Tribunal held that the AO's assessment order was not erroneous or prejudicial to revenue. The classification of sundry income as business income was upheld, allowing deductions for partner's salary. The deductibility of PWC Global Services Charges was justified due to their essential nature for the business. The Accountant Risk Policy Premium was deemed allowable as it directly related to the business. The adequacy of the AO's inquiry was affirmed, leading to the quashing of the CIT's order and allowing the Assessee's appeals in both cases. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299872