2009 (3) TMI 1024

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.... JDUGEMENT 1. The substantial questions of law as enumerated in paragraph-4 of this appeal are as under :- (a) The substantial question of law arises in the present appeal is regarding the correct interpretation of Sec.144 and Section 44AD and other provisions of the act and whether on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal is right in reducing....

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....applicable to the assessee. Under section 44-AD in respect of a Civil Contractor whose income is less than Rs. 40 lakhs, provision has been made for assessing estimated profit as 8% of gross receipts. Since the said section is not applicable to the assessee, there is a eliment of discretion available to the assessing officer which discretion has to be exercised in a logical and non arbitrary manne....