https://www.taxtmi.com/caselaws?id=188229 The High Court dismissed the revenue's appeal against the ITAT's decision on profit estimation for contractors and the applicability of section 44AD to cases exceeding the turnover limit. The Court upheld the 10% profit estimation for contractors failing to produce complete books of account and ruled against extending section 44AD to contractors with turnover exceeding Rs. 40 Lakhs, as specified in the Income Tax Act. The judgment reaffirmed previous decisions and statutory limits, leading to the dismissal of the appeals based on established legal principles and precedents. en-us Mon, 14 May 2007 00:00:00 +0530 Tue, 22 Nov 2016 15:26:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188229 The High Court dismissed the revenue's appeal against the ITAT's decision on profit estimation for contractors and the applicability of section 44AD to cases exceeding the turnover limit. The Court upheld the 10% profit estimation for contractors failing to produce complete books of account and ruled against extending section 44AD to contractors with turnover exceeding Rs. 40 Lakhs, as specified in the Income Tax Act. The judgment reaffirmed previous decisions and statutory limits, leading to the dismissal of the appeals based on established legal principles and precedents. Case-Laws Income Tax Mon, 14 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188229