https://www.taxtmi.com/caselaws?id=56487 The Tribunal partly allowed the appeal, upholding the assessment based on the assessee's books of account instead of under section 44AD. The Tribunal accepted the genuineness of the labor expenses claimed by the assessee, overturning the addition of Rs. 60,000. The issue of non-granting of depreciation at Rs. 48,500 was remanded to the Assessing Officer for proper adjudication, emphasizing correct assessment of expenses and allowances under relevant sections of the Income-tax Act. en-us Thu, 27 Oct 2005 00:00:00 +0530 Sat, 04 Dec 2010 09:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56487 The Tribunal partly allowed the appeal, upholding the assessment based on the assessee's books of account instead of under section 44AD. The Tribunal accepted the genuineness of the labor expenses claimed by the assessee, overturning the addition of Rs. 60,000. The issue of non-granting of depreciation at Rs. 48,500 was remanded to the Assessing Officer for proper adjudication, emphasizing correct assessment of expenses and allowances under relevant sections of the Income-tax Act. Case-Laws Income Tax Thu, 27 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56487