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 ... them audited u/s 44AB of
the Act. The income has been declared by the assessee on estimated basis
u/s 44AD
receipts of Rs. 53,34,397/- instead of 8% provided under section 44AD
of the Income Tax Act, 1961.
2
ITA No. 231/JP/2018 ... response to notice under section 148 of the IT Act issued by the AO
and declared the income under section 44AD
there cannot be levy of
interest u/s. 234B & 234C of the Act. This is because section 44AD(4)
excludes applicability of Chapter XVIIC ... relief.
Therefore, levy of interest u/s. 234B & 234C on assessed income excluding
income declared u/s. 44AD has to be upheld
partner shall be deducted from the income
computed under sub-section (1) of section 44AD subject to
limitation ... section 40(b) of the Act
from the estimated income."
Respectfully following the said decision, it is observed that
section 44AD(2) clearly shows
presumptive rate of tax of 8% as specified under section 44AD
of the Act, which claim of the assessee-appellant has been arbitrarily rejected
without ... understanding the legal mandate of the provisions of section 44AD of
the Act and as such, the additions so made by the learned Assessing Officer
audited and case do not fall under the provisions of
section 44AD of the Act.
4. BECAUSE, upon overall consideration of the facts ... Agra/2016
5
proper manner and on some basis. Section 44AD of the Act
states that if books of accounts are not maintained then
presumptive
reasonable, which is in
conformity with provisions of section 44AD of the Act. Though
provisions of section 44AD of the Act may not be invokable ... assessee and statutory presumptive tax scheme of
the Act, section 44AD wherein for such cases 8% rate of
profit on total turnover has been prescribed
justification for making addition u/s 69 Rs. 6,91,000/-; that since income was
computed u/s 44AD, the Assessing Officer was not justified ... falling u/s 44AD, is incorrect. The
provisions of sub section 5 of Sec. 44AD read with those of Sec. 44AA (2)(iv)
statutorily mandate
return of income declaring income of Rs.
1,48,880/- under section 44AD of the IT Act as the assessee has not maintained
regular books ... submitted that when the assessee
has declared his income under section 44AD and the AO has not found the income
of the assessee as less
filed either u/s 139 or pursuant to
notice u/s 148, the AO completed the assessment u/s 147 read with section ... instead of 25% as such estimation is against
the provisions of section 44AD of the Act. Given the fact that no return of
income
