https://www.taxtmi.com/caselaws?id=30249 HC held that Section 44BB applies to the aggregate amounts paid, payable, received or deemed received (not merely income or accrued income) when computing deemed profits at 10%. The court found ITAT erred in conflating "amount" with "income," concluded Section 44BB is a self-contained code creating a legal fiction, set aside ITAT and CIT(A) orders, and confirmed the Assessing Officer's addition. Decision is for the revenue and against the assessee. en-us Thu, 20 Sep 2007 00:00:00 +0530 Wed, 08 Apr 2026 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30249 HC held that Section 44BB applies to the aggregate amounts paid, payable, received or deemed received (not merely income or accrued income) when computing deemed profits at 10%. The court found ITAT erred in conflating "amount" with "income," concluded Section 44BB is a self-contained code creating a legal fiction, set aside ITAT and CIT(A) orders, and confirmed the Assessing Officer's addition. Decision is for the revenue and against the assessee. Case-Laws Income Tax Thu, 20 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30249