Effect of section 44AD ::

Court :
HC

Brief :
Held by the Hon`ble Bench that whenever the law provides any concession for its rigors, the observance and satisfaction of the qualifying criteria are presumed and section 44AD would not operate to curtail the scope of section 2(24) read with section 5. hence where assessee admittedly earns a higher income it would be liable to assess on that basis and section 44 AD is not applicable.

Citation :
Shivani Builders Vs. I.T.O.

Effect of section 44AD Shivani Builders Vs. I.T.O. 10/27/2005 [2007] 295 ITR 281 (Ahmedabad) Case Fact: Whether, section 44AD is applicable where assessee maintaining accounts and income higher than presumptive income? Decision: Held by the Hon`ble Bench that whenever the law provides any concession for its rigors, the observance and satisfaction of the qualifying criteria are presumed and section 44AD would not operate to curtail the scope of section 2(24) read with section 5. hence where assessee admittedly earns a higher income it would be liable to assess on that basis and section 44 AD is not applicable.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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