Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
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Income declared under section 44AD was accepted because the assessee's activity as a Business Correspondent fell within business, not a notified profession under section 44ADA. The Tribunal held that the Assessing Officer could not enhance income by applying a 50% rate on an assumption that the assessee "should have" declared that level of income, since section 44AD and section 44ADA operate in distinct fields. In the absence of material showing ineligibility for section 44AD, suppression of receipts, inflated expenses, or incorrect gross receipts, the 50% estimation had no statutory basis and the addition was deleted.
Income declared under section 44AD was accepted because the assessee's activity as a Business Correspondent fell within business, not a notified profession under section 44ADA. The Tribunal held that the Assessing Officer could not enhance income by applying a 50% rate on an assumption that the assessee "should have" declared that level of income, since section 44AD and section 44ADA operate in distinct fields. In the absence of material showing ineligibility for section 44AD, suppression of receipts, inflated expenses, or incorrect gross receipts, the 50% estimation had no statutory basis and the addition was deleted.
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