Assessing Officer's Income Division Overturned: Partner's Salary Claim u/s 40(b) Upheld as Business Income.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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....