mention that the assessing officer, on the analogy of Section 44AD , after rejecting the books of account, made assessment determining 8 per cent profit ITAT ... firm.
18. Relying upon the proviso to Sub-section (2) of Section 44AD , he has submitted that the salary and interest paid to its partners
section (1) of that section optional by providing that nothing contained in Sub-sections (1) to (4) of that section would apply, where the assessee ... Section 40(b) . Learned counsel for the petitioner submits that the case of the petitioner was covered under Sub-section (5) of Section 44AD
disallowed or not. In this regard, the Revenue has referred to Sections 44AD, 44 AE and 44 AF of Act, 1961. The aforesaid provisions ... 44AD. Special provision for computing profits and gains of business of civil construction, etc.- (1) Notwithstanding anything to the contrary contained in sections
Tribunal was legally justified in applying net profit rate at 8% u/s 44AD when the gross turnover of the Appellant exceeded 1 crore ... applied the provisions of section of section 44AD of the Act, rather he had justified the assessee's admission of 8% NP rate before
revenue and perused the record.
2. Present appeals have been filed under Section 260-A of the Income Tax Act, 1961 arising from the common order ... lacs, the assessee disclosed net profit Rs. 5.94 lacs under Section 44AD of the Act. During the course of the assessment proceedings, the issue
Devi Prasad Singh,J.
Hon'ble Yogesh Chandra Gupta,J.
Section 44AD admittedly not applicable in the present context.
The finding of fact
