Income Assessment u/s 144 Restricts Further Additions of Income u/s 41(1) of the Income Tax Act.

Income Assessment u/s 144 Restricts Further Additions of Income u/s 41(1) of the Income Tax Act. https://www.taxtmi.com/highlights?id=30440 Invocation of section 144 - estimation of income - When an assessment is completed u/s. 144 of the Act by applying the net profit rate on the turnover, addition u/s. 41(1) cannot be made. - AT en-us Sat, 23 Jul 2016 18:58:27 +0530 Sat, 23 Jul 2016 18:58:27 +0530 TaxTMI RSS Generator Income Assessment u/s 144 Restricts Further Additions of Income u/s 41(1) of the Income Tax Act. https://www.taxtmi.com/highlights?id=30440 Invocation of section 144 - estimation of income - When an assessment is completed u/s. 144 of the Act by applying the net profit rate on the turnover, addition u/s. 41(1) cannot be made. - AT Highlights Income Tax Sat, 23 Jul 2016 18:58:27 +0530 https://www.taxtmi.com/highlights?id=30440