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2022 (11) TMI 964 - AT - Income TaxBenefit of 44AD for non-maintaining the books of account - taxability of presumptive income - amount deposited in the bank account - Special provision for computing profits and gains of business on presumptive basis - HELD THAT:- Respectfully considered the judgment of the Hon’ble High Court of P & H in Surinder Pal Anand [2010 (6) TMI 404 - PUNJAB AND HARYANA HIGH COURT] the assessee had availed the presumptive scheme u/s 44AD during filing his return. The assessee has no liability to maintaining the books of account as per the provision of the Act. Also see Kanpurv.NitinSoni [2012 (5) TMI 121 - ALLAHABAD HIGH COURT] The assessee had properly submitted through his counsel that the said amount was paid from his business receipt. The benefit should be allowed the assessee for availing section 44AD for non-maintaining the books of account. Considering the ratio decidendi of the judgments we are setting aside the orders of revenue authorities. Accordingly, the addition made by the AO is quashed. - Decided in favour of assessee.
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