BEE PEE TEXTILES,MUMBAI vs. PR. CIT- 18 , MUMBAI
In the result, assessee’s appeal stands allowed
ITA 2485/MUM/2019[2014-15]Status: DisposedITAT Mumbai16 Nov 2021AY 2014-15
Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadalem/S. Bee Pee Textiles Vs. Pr. Cit – 18, 384-F, Room No. 4,5 &6 Room No. 601, 6Th Dhabholkar, Wadi, Floor, Earnest House, Kalbadevi, Mumbai – Nariman Point, 4000024. Mumbai – 400021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaffb3061R Appellant .. Respondent Appellant By : Shri Mukesh Advani. Ar Respondent By : Shri Rahul Raman. Dr Date Of Hearing 18.08.2021 Date Of Pronouncement 15.11.2021 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Pr. Commissioner Of Income Tax– 18, Mumbai Order Passed U/S 263 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal:
For Appellant: Shri Mukesh Advani. ARFor Respondent: Shri Rahul Raman. DR
Section 142(1)Section 143(1)Section 143(3)Section 263Section 40Section 40b
40b of the Act will be admissible unless the partnership deed specified the amount of remuneration paid to each individual partner and based on the manner of quantifying the remuneration. The A.O was not satisfied with the explanations and made an addition of Rs.55,53,000/-as disallowance of remuneration and assessed the total income of Rs
Rs.94
