https://www.taxtmi.com/caselaws?id=238775 The High Court partly allowed the appeals, setting aside the Income Tax Appellate Tribunal's decision and restoring the Commissioner of Income Tax (Appeals) order fixing the appellant's income at 5% of the gross turnover for the relevant assessment years. The Court emphasized the inapplicability of Section 44AD due to the turnover exceeding the prescribed limit, highlighting the importance of adhering to natural justice principles in assessment proceedings and the need for Assessing Officers to exercise discretion judiciously based on proper evaluation and analysis. en-us Tue, 01 Oct 2013 00:00:00 +0530 Thu, 31 Oct 2013 08:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238775 The High Court partly allowed the appeals, setting aside the Income Tax Appellate Tribunal's decision and restoring the Commissioner of Income Tax (Appeals) order fixing the appellant's income at 5% of the gross turnover for the relevant assessment years. The Court emphasized the inapplicability of Section 44AD due to the turnover exceeding the prescribed limit, highlighting the importance of adhering to natural justice principles in assessment proceedings and the need for Assessing Officers to exercise discretion judiciously based on proper evaluation and analysis. Case-Laws Income Tax Tue, 01 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238775