https://www.taxtmi.com/acts?id=49988 Where the assessee claims and produces evidence that the profits and gains from the specified business are lower than the presumptive amounts, the Assessing Officer shall proceed to make an assessment of the total income or loss of the assessee and determine the sum payable on the basis of assessment made under the assessment procedure for returned income. en-us Sat, 01 Mar 2025 13:59:42 +0530 Sat, 01 Mar 2025 13:59:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49988 Where the assessee claims and produces evidence that the profits and gains from the specified business are lower than the presumptive amounts, the Assessing Officer shall proceed to make an assessment of the total income or loss of the assessee and determine the sum payable on the basis of assessment made under the assessment procedure for returned income. Act-Rules F. Acts / Amendment Acts Sat, 01 Mar 2025 13:59:42 +0530 https://www.taxtmi.com/acts?id=49988