https://www.taxtmi.com/highlights?id=97578 The note clarifies interaction between presumptive taxation and a deeming provision: Section 44AD's presumptive scheme, when accepted, displaces normal profit computation by deeming profits as a percentage of total turnover or gross receipts; section 43CA substitutes stamp duty value for stated consideration for transfers of land/building held as stock-in-trade. Where both apply, section 43CA may only adjust the turnover base for section 44AD but cannot be invoked to create a separate addition of the differential amount after presumptive profits are accepted. An independent 43CA addition causes double taxation; Revenue must first negate 44AD applicability before applying normal provisions. en-us Wed, 11 Mar 2026 11:39:50 +0530 Wed, 11 Mar 2026 11:39:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97578 The note clarifies interaction between presumptive taxation and a deeming provision: Section 44AD's presumptive scheme, when accepted, displaces normal profit computation by deeming profits as a percentage of total turnover or gross receipts; section 43CA substitutes stamp duty value for stated consideration for transfers of land/building held as stock-in-trade. Where both apply, section 43CA may only adjust the turnover base for section 44AD but cannot be invoked to create a separate addition of the differential amount after presumptive profits are accepted. An independent 43CA addition causes double taxation; Revenue must first negate 44AD applicability before applying normal provisions. Highlights Income Tax Wed, 11 Mar 2026 11:39:50 +0530 https://www.taxtmi.com/highlights?id=97578