Addition made on estimation basis under section 44AD without rejecting books of account is unjustified: ITAT

INCOME TAX : Where assessee’s turnover exceeded Rs. one crore but it failed to get accounts audited under section 44AB, in such a case, Assessing Officer could make addition to assessee’s income on estimation basis under section 44AD only after rejecting books of account and thereafter passing a best judgment assessment order under section 144INCOME TAX : Where assessee’s turnover exceeded Rs. one crore but it failed to get accounts audited under section 44AB, in such a case, Assessing Officer could make addition to assessee’s income on estimation basis under section 44AD only after rejecting books of account and thereafter passing a best judgment assessment order under section 144www.taxmann.com Latest Case LawsRead More

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