https://www.taxtmi.com/caselaws?id=358872 The Tribunal found that the assessee's case was covered under section 44AD, and the estimation of sales by the CIT(A) lacked a reasonable basis. Consequently, the Tribunal directed the AO to delete the addition, ultimately allowing the assessee's appeal. Additionally, the Tribunal dismissed the Revenue's appeal regarding the estimation of net profit, as no evidence supported the actual sales amount of the assessee and the profit estimation lacked a rational basis. The judgment focused on the applicability of section 44AD and the estimation of sales and net profit, resulting in the dismissal of the Revenue's appeal and the allowance of the assessee's appeal. en-us Tue, 17 Apr 2018 00:00:00 +0530 Fri, 20 Apr 2018 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358872 The Tribunal found that the assessee's case was covered under section 44AD, and the estimation of sales by the CIT(A) lacked a reasonable basis. Consequently, the Tribunal directed the AO to delete the addition, ultimately allowing the assessee's appeal. Additionally, the Tribunal dismissed the Revenue's appeal regarding the estimation of net profit, as no evidence supported the actual sales amount of the assessee and the profit estimation lacked a rational basis. The judgment focused on the applicability of section 44AD and the estimation of sales and net profit, resulting in the dismissal of the Revenue's appeal and the allowance of the assessee's appeal. Case-Laws Income Tax Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358872