2007 (11) TMI 72

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..... order by revenue dismissed. - ITA 275/01, 355,356 of 2002 - - - Dated:- 20-11-2007 - K. L. MANJUNATH and ARALI NAGARAJ JJ. JUDGMENT The judgment of the court was delivered by K. L. MANJUNATH 1 .—The short question that arises for consideration in these three appeals are : "When the assessee has received income from other sources, the remuneration claimed by the partners can be allow .....

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..... the contention of the assessee held that the additional income shown in the revised returns was not an income from business but from other sources and directed the Assessing Officer to compute the remuneration of the partners including the income from other sources credited to the profit and loss account declared during the course of survey under section 133A of the Income-tax Act. Being aggrieve .....

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..... rns was disclosed only from business and not from other sources. Therefore, he contended that when the assessee had received the additional income from business only, the question of reopening the issue by the Commissioner exercising his revisional powers does not arise for consideration. 5 We have perused the orders of the Tribunal. The Tribunal has carefully considered the questions put by t .....

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