https://www.taxtmi.com/caselaws?id=208527 The ITAT partially allowed the appellant's appeal on 29.1.2010, addressing disallowances under sections 40(a)(ia) and 40A(3), and the addition on account of low drawings. The ITAT determined that the appellant's income should be calculated under section 44AE(2), rendering section 40(a)(ia) inapplicable. Additionally, it ruled that no disallowance was necessary under section 40A(3) as the income was to be determined under section 44AE. The ITAT made adjustments for low drawings, estimating the addition at Rs.40,000, ultimately leading to a partial allowance of the appeal. en-us Fri, 29 Jan 2010 00:00:00 +0530 Thu, 19 Jan 2012 06:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208527 The ITAT partially allowed the appellant's appeal on 29.1.2010, addressing disallowances under sections 40(a)(ia) and 40A(3), and the addition on account of low drawings. The ITAT determined that the appellant's income should be calculated under section 44AE(2), rendering section 40(a)(ia) inapplicable. Additionally, it ruled that no disallowance was necessary under section 40A(3) as the income was to be determined under section 44AE. The ITAT made adjustments for low drawings, estimating the addition at Rs.40,000, ultimately leading to a partial allowance of the appeal. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208527