2019 (7) TMI 1545

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.... The captioned appeal has been filed by the assessee against the order of the CIT(A)-2, Vadodara ('CIT(A)' in short), dated 24.11.2017 arising in the assessment order dated 30.12.2015 passed by the Assessing Officer under s. 143(3) of the Income Tax Act , 1961 (the Act) concerning A.Y. 2013-14. 2. The captioned appeal has filed by the assessee seeking to impugn the disallowance sustained by the....

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....ee before the Tribunal. Accordingly, the matter was proceeded ex-parte. 5. Ld. DR for the Revenue relied upon the order of the AO and the CIT(A). 6. We have perused the order of the lower authorities. We find that the assessee has earned dividend income of Rs. 32,155/- on investment in mutual funds. The assessee has also claimed exempt income of Rs. 38,66,171/- from the partnership firm in whi....

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....rative expenses. The partnership firm is an independent entity and requires to run its affairs separately. The partners are holding the mutual agency in the partnership firm and unless the partners are shown to be drawing remuneration from the assessee concern and at the same time investing its attention in the partnership firm, there is no perceptible reason to disbelieve the assessee for not inc....