https://www.taxtmi.com/caselaws?id=57851 The Tribunal granted a stay of demand for Rs. 73,81,034 for the assessment year 1997-98 to the developer and builder of residential apartments. The assessment under section 44AD was challenged, citing illegal assessment and unauthorized change in the accounting method. The Tribunal found section 44AD prima facie inapplicable due to turnover exceeding limits and stayed the demand, requiring security in the form of unsold flats worth Rs. 40 lakhs. The balance of convenience favored the assessee, leading to the allowance of the stay petition. en-us Mon, 04 Mar 2002 00:00:00 +0530 Wed, 15 Dec 2010 09:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57851 The Tribunal granted a stay of demand for Rs. 73,81,034 for the assessment year 1997-98 to the developer and builder of residential apartments. The assessment under section 44AD was challenged, citing illegal assessment and unauthorized change in the accounting method. The Tribunal found section 44AD prima facie inapplicable due to turnover exceeding limits and stayed the demand, requiring security in the form of unsold flats worth Rs. 40 lakhs. The balance of convenience favored the assessee, leading to the allowance of the stay petition. Case-Laws Income Tax Mon, 04 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57851