Court Rules Sales Estimation Unsustainable Without Basis in Section 44AD Case; Assessee's Books Not Maintained.

Court Rules Sales Estimation Unsustainable Without Basis in Section 44AD Case; Assessee's Books Not Maintained. https://www.taxtmi.com/highlights?id=38989 Estimation of sales and net profit - filing return u/s 44AD - AO estimated the actual sales of ₹ 86 lacs instead of ₹ 19 lacs - when no books of accounts are maintained by the assessee and return is filed under section 44AD of the Act, we are not in a position to sustain the order estimating the sales which has no basis at all. - AT en-us Fri, 20 Apr 2018 14:38:32 +0530 Fri, 20 Apr 2018 14:38:32 +0530 TaxTMI RSS Generator Court Rules Sales Estimation Unsustainable Without Basis in Section 44AD Case; Assessee's Books Not Maintained. https://www.taxtmi.com/highlights?id=38989 Estimation of sales and net profit - filing return u/s 44AD - AO estimated the actual sales of ₹ 86 lacs instead of ₹ 19 lacs - when no books of accounts are maintained by the assessee and return is filed under section 44AD of the Act, we are not in a position to sustain the order estimating the sales which has no basis at all. - AT Highlights Income Tax Fri, 20 Apr 2018 14:38:32 +0530 https://www.taxtmi.com/highlights?id=38989