Tag: deemed profit u/s 44AD

Onus is on assessee to prove and substantiate that he is in retail business, and eligible to claim presumptive of taxation u/s 44AD – ITAT In a recent judgment, ITAT Agra has held that onus is on the assessee to prove and substantiate that the assessee is in …

Net Profit rate of about 40% not possible in contract work especially when assessee does contract work for government department – ITAT In a recent judgment, ITAT Pune upheld estimating net profit @ 8% against addition on account of alleged payments to bogus sub contractors made by the …

No further disallowance when income is computed u/s 44AD. ITAT directs AO to make assessment u/s 44AD as desired by assessee who earlier declared lower net profits ABCAUS Case Law Citation: ABCAUS 2989 (2019) (06) ITAT The only issue in this appeal filed by the assessee was against …

Deemed profit us 44AD reduced to 6 percent for digital turnover or gross receipts received through banking channel for FY 2016-17-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 19th December, 2016. Press Release Measures for Promoting Digital Payments & …