https://www.taxtmi.com/caselaws?id=422956 The Appellate Tribunal ITAT Chennai allowed the appeal of the assessee for statistical purposes, directing the assessing officer to reframe the assessment based on the books of account maintained by the assessee under section 44AA of the Income Tax Act, 1961. The Tribunal emphasized the importance of making assessments in accordance with the provisions of the Act and highlighted the option for lower profits declaration under section 44AD(5) if total income exceeded the exempted limit. en-us Wed, 27 Apr 2022 00:00:00 +0530 Wed, 25 May 2022 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422956 The Appellate Tribunal ITAT Chennai allowed the appeal of the assessee for statistical purposes, directing the assessing officer to reframe the assessment based on the books of account maintained by the assessee under section 44AA of the Income Tax Act, 1961. The Tribunal emphasized the importance of making assessments in accordance with the provisions of the Act and highlighted the option for lower profits declaration under section 44AD(5) if total income exceeded the exempted limit. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422956