Finance Act, 1994 with effect
from 1-4-1994. Sub-section (1) of section 44AD clearly provides that where an
assessce is engaged ... addition has been
made under section 69A of the Act, on which there is no bar under section 44AD of
the Act, we are quite
assesses carrying on the specified profession as per section 44AA(1)
from the gambit of section 44AD . The Assessee is in the business of providing ... section
44ADA of the Act was taxed under section 44ADA of the Act. As we have
already seen the presumptive income under section 44AD
rejected assessee's contention of falling
within the ambit of section 44AD as the assessee is found not involved in construction work ... u/s 69 of the Income Tax
Act, 1961 by the Assessing Officer. As relates to addition of Rs. 88,900/- under Section 44AD
Finance Act, 1994 with effect
from 1-4-1994. Sub-section (1) of section 44AD clearly provides that where an
assessee is engaged ... addition has been made
under section 69C of the Act, on which there is no bar under section 44AD of the Act, we
are quite
Hiteshbhai H Shah depositor had simply disclosed
earlier which was income u/s 44AD of the Act
received back and the without specifying the name ... possess any depositor had simply disclosed
evidence to submit. income u/s 44AD of the Act
Amount in received without specifying the name
aggrieved on denial of his claim for estimating income under section
44AD of the Income-tax Act (in short "the Act"), on remuneration ... virtue of section 28(v) of the Act and hence assessee is
eligible for applying presumptive interest rate under section 44AD of the
Act.
Section
accepted the income offered in the
return of income filed under section 44AD of the Act and at the same
time, has brought ... accounts audited. We find that by
accepting the income offered under section 44AD(1) , the AO has thus
accepted the assessee's eligibility
accepted
the income offered in the return of income filed under section
44AD of the Act and at the same time, has brought ... accounts audited. We find that by
accepting the income offered under section 44AD(1) , the AO has
thus accepted the assessee's eligibility
appellant has shown business
income as per the provisions of section 44AD of the Act and has
shown gross receipts ... money' in its entirety and what was
assessable under section 44AD was 8 per cent of the gross
receipt or more profits shown
stating that the said rate has been referred under Section 44AD of the Act. It
is highly ironical that the Ld AO had just transgressed ... said Section duly recognizes a claim of lower net
profit rate also. Be that as it may be, the fact remains that Section 44AD
