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2020 (5) TMI 454 - AT - Income TaxAddition invoking provision of section 44AD - Special provision for computing profits and gains of business on presumptive basis - addition @ 8% on total receipts - HELD THAT:- AO righty invoked the provisions of Section 44AD and applied rate of 8% on the contract receipts of the assessee during the year under consideration. CIT(A) further observed that the request of the assessee to restrict the rate to 3% was never substantiated by the books of accounts nor was a part of the provisions of the Income Tax Act. Thus, there is no need to interfere with the findings of the CIT(A). Therefore, the appeal of the assessee is dismissed.
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