2023 (10) TMI 130

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....pondent : Sh. Naganath B. Pasale, Ld.DR ORDER PER: N.K. CHOUDHRY, JM This appeal has been preferred by the Assessee against the order dated 07.03.2023 impugned herein passed by the learned Commissioner of Income Tax/National Faceless Appeal Centre, Delhi (NFAC) (in short ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short the Act) for AY 2017-18. 2. In the instant....

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....ces and is covered under section 44ADA of the Act and therefore taxable @50%. The Ld. Commissioner ultimately computed the total income of the Assessee to the tune of Rs. 2,68,640/- (2,40,640/- + 27,982/- @8% of Rs. 3,49,500/-) and restricted the income of Rs. 3,49,500/- u/s 139(1) of the Act to the tune of Rs. 2,68,602/- only. 4. The Assessee being aggrieved is in appeal before us. 5. We ha....