https://www.taxtmi.com/caselaws?id=761404 The ITAT Kolkata allowed the assessee's appeal regarding turnover determination under Section 44AD for presumptive taxation. The tribunal accepted the assessee's contention that total turnover was Rs. 64,74,859/- rather than Rs. 74,26,060/- as determined by authorities below. The assessee had offered income at 6% of total turnover from eligible business as a whole, not item-wise. The tribunal distinguished the case from Section 80IB decisions cited by CIT(A) and directed the AO to accept the assessee's revised tax offer based on the corrected turnover calculation under Section 44AD provisions. en-us Thu, 07 Nov 2024 00:00:00 +0530 Sat, 09 Nov 2024 08:49:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761404 The ITAT Kolkata allowed the assessee's appeal regarding turnover determination under Section 44AD for presumptive taxation. The tribunal accepted the assessee's contention that total turnover was Rs. 64,74,859/- rather than Rs. 74,26,060/- as determined by authorities below. The assessee had offered income at 6% of total turnover from eligible business as a whole, not item-wise. The tribunal distinguished the case from Section 80IB decisions cited by CIT(A) and directed the AO to accept the assessee's revised tax offer based on the corrected turnover calculation under Section 44AD provisions. Case-Laws Income Tax Thu, 07 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761404