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2016 (2) TMI 124 - AT - Income TaxApplicability of provisions of section 44AD - nature of work - income from business or from other sources - Held that:- Since Shri. P. Shyamaraju was also a partner of the assessee firm, cannot find any fault in him exercising control over the accounts of the assessee as well. Copy of the partnership deed placed also show that Shri. P. Shyama Raju was a partner of the assessee fim. In any case we find that the statement of Shri. V. Samba Moorthy was neither put to the assessee nor assessee was given an opportunity to cross examine in the fact of this. Assessee had produced sufficient records to prove that it was doing contract work. It could very well rely on Section 44 AD of the Act since its turnover was less than ₹ 40 lakhs. Thus of the opinion that CIT (A) was therefore not justified in shifting the source of income from business to other sources. - Decided in favour of assessee
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