https://www.taxtmi.com/caselaws?id=408011 The Tribunal held that the assessee was eligible for the benefits of presumptive taxation under Section 44AD for the assessment year 2013-14, overriding the provisions of Section 40(a)(ia) of the Income Tax Act. Consequently, the disallowance of expenses totaling Rs. 11,59,064 was deleted, emphasizing the legislative intent to simplify taxation for small businesses. The appeal was allowed, and the addition made by the Assessing Officer was overturned. en-us Fri, 16 Oct 2020 00:00:00 +0530 Sat, 29 May 2021 08:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408011 The Tribunal held that the assessee was eligible for the benefits of presumptive taxation under Section 44AD for the assessment year 2013-14, overriding the provisions of Section 40(a)(ia) of the Income Tax Act. Consequently, the disallowance of expenses totaling Rs. 11,59,064 was deleted, emphasizing the legislative intent to simplify taxation for small businesses. The appeal was allowed, and the addition made by the Assessing Officer was overturned. Case-Laws Income Tax Fri, 16 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408011