Presumptive taxation: assessee can prove lower profits to trigger full assessment of total income by assessing officer. Where the assessee adduces evidence that profits and gains from the specified business for the relevant previous year are lower than the presumptive amount, the presumptive taxation provisions shall not apply and the Assessing Officer shall proceed to make a full assessment of the assessee's total income or loss and determine the sum payable on the basis of that assessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Presumptive taxation: assessee can prove lower profits to trigger full assessment of total income by assessing officer.
Where the assessee adduces evidence that profits and gains from the specified business for the relevant previous year are lower than the presumptive amount, the presumptive taxation provisions shall not apply and the Assessing Officer shall proceed to make a full assessment of the assessee's total income or loss and determine the sum payable on the basis of that assessment.
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