2022 (7) TMI 1211

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.... Respondent by : Shri M.N.Murthy Naik, CIT(DR) ORDER Per Shri Duvvuru RL Reddy, Judicial Member : This appeal is filed by assessee against the order of the Principal Commissioner of Income Tax (in short, Pr.CIT), Visakhapatnam-1 in DIN & Letter No.ITBA/COM/F/17/2020-21/1031851226(1) dated 28.03..2021 for the Assessment Year (A.Y.) 2015-16. 2. Brief facts of the case are that the ass....

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....Since, one of the partners of the assessee firm, Smt. Dadi Anuradha is engaged in full time teaching profession, remuneration paid to her of Rs.3,80,000/- by the assessee firm is not allowable u/s 40A(2)(a) of the Act. However, it is seen that the AO omitted to disallow the same in the assessment order and no enquiries were made in this regard during the assessment proceedings. Therefore, revision....

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....umstances of the case, the order passed by Pr.Commissioner of Income Tax (in short "Pr.CIT") u/s 263 of the IT Act dt.26.10.2017 (SIQ) is contrary to facts of the case and provisions of law. 2. The action of the Ld.Pr.CIT in invoking his jurisdiction u/s 263 on an issue which has already been considered and examined by the Assessing Officer in the assessment proceedings is against the pro....

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....diture to the firm. The said Dadi Anuradha is working as part time teacher and in the evening, other holidays and during vacation period, she used to attend administration work, verified loan processing documents and interacted with parties etc and meagre amount of Rs.3,80,000/- was fixed as remuneration to the working partner. Therefore, there is no prejudice to the interest of the revenue as con....