https://www.taxtmi.com/caselaws?id=304351 The Tribunal partly allowed the Assessee's appeal for Assessment Years 2006-07 and 2007-08, directing the calculation of income based on peak credit balance and turnover. The Tribunal considered the turnover and provisions of section 44AD of the Act, ruling in favor of the Assessee's argument that not all sales proceeds deposited in the bank account should be treated as income. The Tribunal's decision, pronounced on 18th September 2018, dismissed one ground and partly allowed the other, emphasizing the application of section 44AD in determining taxable income for both assessment years. en-us Tue, 18 Sep 2018 00:00:00 +0530 Thu, 22 Sep 2022 07:38:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304351 The Tribunal partly allowed the Assessee's appeal for Assessment Years 2006-07 and 2007-08, directing the calculation of income based on peak credit balance and turnover. The Tribunal considered the turnover and provisions of section 44AD of the Act, ruling in favor of the Assessee's argument that not all sales proceeds deposited in the bank account should be treated as income. The Tribunal's decision, pronounced on 18th September 2018, dismissed one ground and partly allowed the other, emphasizing the application of section 44AD in determining taxable income for both assessment years. Case-Laws Income Tax Tue, 18 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304351