https://www.taxtmi.com/highlights?id=56164 Expenditure incurred by the assessee towards earning income from providing consultancy services - it would be appropriate and just to estimate the expenditure and thereafter determine the taxable income of the assessee. Further taking cue from the provisions of section 44ADA of the Act (though it was inserted by finance Act 2016 w.e.f. 1/4/2017). - In the peculiar circumstances in the case of the assessee 50% of the gross consultancy receipts should be treated as the expenditure incurred by the assessee for earning income from consultancy services - AT en-us Sat, 02 Jan 2021 10:01:38 +0530 Sat, 02 Jan 2021 10:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56164 Expenditure incurred by the assessee towards earning income from providing consultancy services - it would be appropriate and just to estimate the expenditure and thereafter determine the taxable income of the assessee. Further taking cue from the provisions of section 44ADA of the Act (though it was inserted by finance Act 2016 w.e.f. 1/4/2017). - In the peculiar circumstances in the case of the assessee 50% of the gross consultancy receipts should be treated as the expenditure incurred by the assessee for earning income from consultancy services - AT Highlights Income Tax Sat, 02 Jan 2021 10:01:38 +0530 https://www.taxtmi.com/highlights?id=56164