https://www.taxtmi.com/caselaws?id=456452 ITAT Raipur allowed the assessee's appeal against Pr. CIT's revision order u/s 263. The case involved assessment of income u/s 44AE for stone crusher business originally selected for limited scrutiny. ITAT held that assessee's disclosure of income through regular books of accounts, which exceeded presumptive income u/s 44AD, was not prejudicial to revenue interest. The AO's allowance of depreciation claim was not erroneous. ITAT set aside Pr. CIT's order and restored AO's assessment u/s 143(3). en-us Mon, 10 Jul 2023 00:00:00 +0530 Thu, 25 Jul 2024 20:02:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456452 ITAT Raipur allowed the assessee's appeal against Pr. CIT's revision order u/s 263. The case involved assessment of income u/s 44AE for stone crusher business originally selected for limited scrutiny. ITAT held that assessee's disclosure of income through regular books of accounts, which exceeded presumptive income u/s 44AD, was not prejudicial to revenue interest. The AO's allowance of depreciation claim was not erroneous. ITAT set aside Pr. CIT's order and restored AO's assessment u/s 143(3). Case-Laws Income Tax Mon, 10 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456452