https://www.taxtmi.com/caselaws?id=470379 Under the presumptive-taxation scheme for eligible businesses and contractors, income declared at the prescribed rate on gross receipts does not require detailed books or proof of each expense. Accordingly, absence of expense details alone cannot justify treating entire contract receipts as taxable income. Counsel's hospitalisation during the period of appellate notices constituted reasonable cause for non-response, requiring the first appellate authority to provide a fresh opportunity and reconsider the assessment on merits. The dispute is to be re-adjudicated consistently with the presumptive-taxation framework and fair-hearing requirements. en-us Thu, 20 Mar 2025 00:00:00 +0530 Fri, 24 Jul 2026 21:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470379 Under the presumptive-taxation scheme for eligible businesses and contractors, income declared at the prescribed rate on gross receipts does not require detailed books or proof of each expense. Accordingly, absence of expense details alone cannot justify treating entire contract receipts as taxable income. Counsel's hospitalisation during the period of appellate notices constituted reasonable cause for non-response, requiring the first appellate authority to provide a fresh opportunity and reconsider the assessment on merits. The dispute is to be re-adjudicated consistently with the presumptive-taxation framework and fair-hearing requirements. Case-Laws Income Tax Thu, 20 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470379