https://www.taxtmi.com/caselaws?id=32997 The High Court upheld the Income Tax Appellate Tribunal's decision in a case involving the rejection of books of account and estimation of net profit under Section 44AD of the Income Tax Act. The Court affirmed the Tribunal's findings that the estimate of net profit at 4% was reasonable, considering all expenses, and that the assessee failed to discharge the burden of proof regarding various claims made in the return of income and books of account. The Court concluded that no substantial question of law arose for consideration and dismissed the appeal. en-us Tue, 20 Jan 2009 00:00:00 +0530 Thu, 16 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32997 The High Court upheld the Income Tax Appellate Tribunal's decision in a case involving the rejection of books of account and estimation of net profit under Section 44AD of the Income Tax Act. The Court affirmed the Tribunal's findings that the estimate of net profit at 4% was reasonable, considering all expenses, and that the assessee failed to discharge the burden of proof regarding various claims made in the return of income and books of account. The Court concluded that no substantial question of law arose for consideration and dismissed the appeal. Case-Laws Income Tax Tue, 20 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32997