{"id":25546,"date":"2022-03-15T17:11:04","date_gmt":"2022-03-15T11:41:04","guid":{"rendered":"https:\/\/itatonline.org\/digest\/perizad-zorabian-irani-v-pcit-bomhc-www-itatonline-org\/"},"modified":"2022-12-30T12:58:16","modified_gmt":"2022-12-30T07:28:16","slug":"perizad-zorabian-irani-v-pcit-bomhc-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/perizad-zorabian-irani-v-pcit-bomhc-www-itatonline-org\/","title":{"rendered":"Perizad Zorabian Irani v. PCIT ( 2022 )  287 Taxman 406 \/328 CTR 909\/  218 DTR 219\/113 CCH 339    (Bom)(HC) www.itatonline .org"},"content":{"rendered":"<p>The petitioner is an actress shown her professional income and also remuneration from two partnership firms in her return of income . . The\u00a0 professional income being less than prescribed limit\u00a0 petitioner has not obtained the tax Audit report . The Assessing Officer held that though the professional income was less than the prescribed limit for the Tax audit \u00a0,the remuneration received from two partnership firms being\u00a0 more than the prescribed limit \u00a0of gross receipts of one crore , the petitioner ought to have obtained tax audit report . As the tax audit report was not obtained the return was treated as invalid . The petitioner filed revision application before the Commissioner u\/s 264 of the Act . Commissioner also affirmed the order of the Assessing Officer . The petitioner filed\u00a0 writ petition before the High Court \u00a0challenging\u00a0 the treating the return as invalid . Honouarble Court\u00a0 referred to the decision of the Hon\u2019ble Madras High Court in the case of\u00a0<strong>Anandkumar v. ACIT\u00a0<\/strong><strong>(2021) 430 ITR 391 (Mad)(HC)\u00a0<\/strong>where<strong>\u00a0<\/strong>the Assessing Officer held that the assessee did not have any turnover and receipts on account of remuneration and interest from the firms cannot be construed as gross receipts mentioned in Section 44AD of the Act. The case was decided in the favour of the Revenue. The Honourable High Court held that the \u00a0remuneration and interest from the partnership firm cannot be treated as gross receipt of the assessee. \u00a0The order of\u00a0 Commissioner\u00a0 affirming the order of the Assessing\u00a0 Officer treating the return as in valid was quashed and set aside .\u00a0\u00a0 \u00a0(WP No. 1333 of 2021 dated March 09, 2022) \u00a0(AY. 2017 -18 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 44AB: Audit of accounts \u2013 Business \u2013 Profession \u2013 Remuneration received from Partnership Firm \u2013 Firm is separate legal entity \u2013 Remuneration and interest  from partnership firm &#8211;  Not to be included in  gross receipt or turnover \u2013 Presumptive basis &#8211; No tax Audit is required ,if remuneration does not exceeds threshold limit for Tax Audit- Return cannot be treated as invalid for failure to get Tax  Audit report  .[ S. 2(13), 2(31)(iv) ,  2(36), 44AD, 139(9),  264 ,271B,  Art , 226 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-25546","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6E2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=25546"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25546\/revisions"}],"predecessor-version":[{"id":31536,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25546\/revisions\/31536"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=25546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=25546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=25546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}