https://www.taxtmi.com/caselaws?id=189248 An assessee crossing the section 44AD turnover ceiling and failing to substantiate claimed cash credits and customer advances could not claim presumptive taxation. On the facts found, the Tribunal held that unsupported receipts and advances justified rejection of the presumptive computation and permitted estimation of income on a reasonable turnover basis. The Assessing Officer was directed to recompute gross income at 20% of turnover, with the first appellate relief sustained only in part. en-us Fri, 22 Jan 2016 00:00:00 +0530 Tue, 03 Jan 2017 09:47:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189248 An assessee crossing the section 44AD turnover ceiling and failing to substantiate claimed cash credits and customer advances could not claim presumptive taxation. On the facts found, the Tribunal held that unsupported receipts and advances justified rejection of the presumptive computation and permitted estimation of income on a reasonable turnover basis. The Assessing Officer was directed to recompute gross income at 20% of turnover, with the first appellate relief sustained only in part. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189248