Hydroair Tectonics (Pcd) Ltd, Navi ... vs Dcit Cen Cir 2(1), Mumbai on 30 January
profits and gains of the assessee under section
44AE or section 44BB or section 44BBB , as the case may be, and
the assessee has claimed ... previous year; or
47
[(iv) where the provisions of sub-section (4) of section 44AD are
applicable in his case and his income exceeds
Shri Nagendra Choudhary, Jaipur vs Deputy Commissioner Of Income Tax, ... on 10 June, 2019
vk
profits and gains of the assessee under [section 44AE] [or
section 44BI3 or section 44BBB], as the case may be, and the
assessee has claimed ... deemed to be the
profits and gains of the assessee under section 44AD and he has
claimed such income to be lower than the profits
gross receipt, in accordance with the
provision of section 44AD of the Act. During the remand
proceeding, the Assessing Officer recommended to adopt net
profit ... 2422/Del/2015
40 lakhs in terms of section 44AD , the Hon'ble High Court
observed that they have certain distinct advantage
learned CIT(A)-I, Agra in the matter of
assessment passed under section 144 of the Income Tax Act, 1961 for
Assessment Year ... such
case do not fall under the provisions of section 44AD of the Act.
4. BECAUSE, application of profit @ 8% is without any basis, evidence
books of account and, therefore, by taking guidance of
section 44AD the AO has applied 8% NP to estimate the income of the assessee ... income of the assessee after rejection of
books of account under section 145(3) of the Act. It is settled position of law that
once
unaccounted purchase and sales
and has offered it for taxation under section 44AD of the Act. These are some
of the facts which comes from
Accounts and has taken the wrong and illegal view of Section 44AD
of Income Tax Act, 1961 which is not applicable to the Assessee ... ACIT u/s.44AD of I.T.
Act,1961 which is out of scope as assessee's case is duly audited
u/s. 44AB
issuing notice
under section 148 of the Act after recording reason which ultimately finalized
under section ... terms of the provision of
Sec. 44AD of the Act on 20.03.2015. Consequently, penalty proceeding was
initiated under section