Section 44AF in The Income Tax Act, 1961 [Entire Act]
Section 44AF in The Income Tax Act, 1961
44AF. [ Special provisions for computing profits and gains of retail business. [ Inserted
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1 - 10 of 749 (0.77 seconds)Section 31 in Finance Act, 1999 [Entire Act]
Section 31 in Finance Act, 1999
31. Amendment of section 44AF.
- In section 44AF of the Income-tax Act, after sub-section (4), the following
A.C.I.T.-2, Agra vs M/S Raja Janmejay Automobiles, Auraiya on 19 November, 2017
appreciating the facts of the case
and since the provisions of section 44AF are not applicable
in the case of the assessee.
2. That ... without
appreciating the facts of the case and since provisions of section 44AF
are not applicable to the case of the assessee
Darshan Enterprises vs Income Tax Officer on 31 August, 2007
than the presumptive profits as per the provisions of Sections 44AE and 44AF of the Act while the appellant had shown in the return ... bona fide impression that under the provisions of Sections 44AE and 44AF, there was no obligation for the appellant to declare the profits
Leyland Automobiles vs Income Tax Officer on 7 April, 2006
business and to estimate the business income applying the provisions of Section 44AF of the IT Act, 1961. According to the AO, there was only ... return a business profit less than 5 per cent under Section 44AF , if the assessee has his accounts audited after the specified date. Section 44AF
Surinder Pal Gandhi, Jalandhar vs Department Of Income Tax on 1 July, 2016
Cement Store on the basis of
provision of Sec.44AF
2. Income from Brick Kiln Rs.15,55,000/-
3. Unexplained credits in Bank ... Cement Store on the basis of
provision of Sec.44AF
2 . Income from Brick Kiln Rs.31,10,000/-
3. Unexplained credits in Bank
D Saivenugopal, Chennai vs Ito, Ncw 6(1), Chennai on 27 November, 2019
account of disallowance of
claim of agricultural income being unsubstantiated, disallowance of 44AF
claim, addition for deemed dividend and section 14A disallowance. In the
statement ... 44AA of the Act. The assessee has
claimed deemed profits under section 44AF of the Act and offered 5% as
income on gross receipts. However
Bhawani Shanker Gupta, New Delhi vs Ito, Ward- 24(3), New Delhi on 10 June, 2021
declared profit of Rs.35,416/- u/s 44AF of the Act and
also shown short-term capital gain of Rs.66,664/- apart from ... Business/Profession
Net profit declared in accordance with
the provisions of section 44AF (5% of Rs.7,08.320/-) 35,416/-
Income from Capital Gain
Short
Lakshya Seth, Delhi vs Assessee on 7 October, 2015
gross receipts of Rs.76,40,380 as
prescribed u/s 44AF of the Act. Finally, the said addition was made being 8%
of turnover ... main grievance of the CIT
is that provisions of section 44AD / 44AF of the Act were not applicable if the
gross turnover exceeds
Jignesh Girish Bengari , Mumbai vs Assessee on 27 May, 2016
under presumptive tax
scheme under the provisions of section 44AF of the Act. The case of the
assessee was selected for scrutiny under CASS ... filed his return of income u/s
4 ITA No.5928/2010
44AF of the Act. The assessee deposited into his bank account the amount