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2020 (5) TMI 133 - AT - Income TaxEstimation of profit - rejection of books of accounts - AO estimated net profit @ 10% as against 5% declared by assessee also confirmed by CIT-A - HELD THAT:- Drawing inference from provision of section 44AD and looking to the fact that assessee is not engaged in business of plying, hiring or leasing goods carriages and also not maintaining regular books of accounts, are of the considered view that applying of 8% of net profit rate on the undisputed total business turnover disclosed by the assessee shall be justified and fair to both the parties. - Decided partly in favour of assessee.
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