https://www.taxtmi.com/caselaws?id=119604 The Tribunal held that the reassessment proceedings were invalid as the assessee's business as a builder did not fall under section 44AD, and there was no need for an audit report under section 44AB. The application of an 8% profit estimation on gross receipts was deemed unjustified as the assessee maintained proper books of account. Therefore, the appeal was allowed, and the reassessment under section 147 with section 143(3) was annulled. en-us Fri, 23 Feb 2007 00:00:00 +0530 Thu, 12 Jul 2012 11:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119604 The Tribunal held that the reassessment proceedings were invalid as the assessee's business as a builder did not fall under section 44AD, and there was no need for an audit report under section 44AB. The application of an 8% profit estimation on gross receipts was deemed unjustified as the assessee maintained proper books of account. Therefore, the appeal was allowed, and the reassessment under section 147 with section 143(3) was annulled. Case-Laws Income Tax Fri, 23 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119604