Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Addition u/s 68 - assessee has shown its return of income u/s 44AD - it is undisputed fact that the assessee had not maintained books of account that is why he opted for 8% income as per section 44AD - The section also does not put obligation on the assessee to maintain books of account, more so, in view of the fact that his income has been assessed as per section 44AD he cannot be punished for not maintaining the same. - AT
Addition u/s 68 - assessee has shown its return of income u/s 44AD - it is undisputed fact that the assessee had not maintained books of account that is why he opted for 8% income as per section 44AD - The section also does not put obligation on the assessee to maintain books of account, more so, in view of the fact that his income has been assessed as per section 44AD he cannot be punished for not maintaining the same. - AT
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TaxTMI 
TaxTMI 
of 4883 
