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of <h1>Conflicting High Court Rulings on Income Tax Act Section 44AC: Board Directs Assessments Based on Jurisdictional Decisions.</h1> The circular addresses conflicting High Court judgments regarding the interpretation of Section 44AC of the Income Tax Act, 1961. The Andhra Pradesh High Court limited Section 44AC's scope to tax collection at source, while the Kerala High Court upheld its validity. The Board decided that assessments should follow jurisdictional High Court rulings. If a High Court rules against using Section 44AC's presumptive profit rate, assessments should apply Sections 28 to 43C, pending Supreme Court appeals. In the absence of jurisdictional decisions, Section 44AC applies, referencing Kerala's rulings. The instructions target time-barring assessments, with a register for cases affected by jurisdictional decisions.
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