2020 (10) TMI 1237

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....m. The ld CIT(A) has also held that partners remuneration cannot be considered as business income. 2. The assessee has raised the following grounds of appeal:- "1. That the ld CIT(A) has erred in law and on the facts and circumstances of the case in confirming the disallowances of expenses of Rs. 871316/- claimed by the assessee against remuneration received from Partnership firm. 2. That the ld CIT(A) has erred in law in holding that the Partner's remuneration cannot be considered as business income." 3. Brief facts of the case shows that the assessee is an individual and advocate by profession. He received income from house property, business and profession, capital gain and income from other sources. He filed his ....

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....re incurred by the assessee. He therefore, submitted that these expenditure are incurred by the assessee wholly and exclusively for the purpose of the business of the assessee. Therefore, same should be allowed. 6. The ld DR vehemently supported the orders of the ld CIT(A). 7. We have carefully considered the rival contentions and perused the orders of the lower authorities. The fact shows that the assessee is an individual who is a partner in a law firm namely Trilegal and received a remuneration of Rs. 3,22,60,925/- which is offered for taxation u/s 28(v) of the Act. The assessee also received share of profit from the above firm of Rs. 31624561/- which is claimed as exempt u/s 10(2A) of the Act. The assessee incurred certain expendi....