Tax Authority Rightly Applies 10% Net Profit Rate on Contract Receipts Over Limit u/s 44AD.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Applying net profit rate of 10% on the contract receipts - Section 44AD - where the turnover was exceeding the prescribed limit, the CIT(A) was justified in estimated 10% profit on the gross contract receipts - AT....