https://www.taxtmi.com/caselaws?id=185289 The Tribunal held that once the net profit rate is estimated under Section 44AD, the Assessing Officer cannot base further disallowances on the same books of account. The Tribunal directed the AO to delete other disallowances and limit the addition by applying the net profit rate at 8% of gross receipts. The Tribunal concluded that no additional disallowances could be made once the profit was estimated using the net profit rate, dismissing the appeal for lack of substantial legal questions. en-us Fri, 29 Aug 2014 00:00:00 +0530 Mon, 08 Aug 2016 14:13:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185289 The Tribunal held that once the net profit rate is estimated under Section 44AD, the Assessing Officer cannot base further disallowances on the same books of account. The Tribunal directed the AO to delete other disallowances and limit the addition by applying the net profit rate at 8% of gross receipts. The Tribunal concluded that no additional disallowances could be made once the profit was estimated using the net profit rate, dismissing the appeal for lack of substantial legal questions. Case-Laws Income Tax Fri, 29 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185289