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erred in holding that the provisions of
section 44AF do not apply without giving any reasons for such a finding ... assessment year 1998-99 was filed under section
139/44AF.
(e) Because the learned CIT(A)-I, Agra has erred
Income Tax Appellate Tribunal - Agra
estimate the business income applying
the provisions of Section 44AF of the IT Act, 1961. According to the
AO, there ... Sections 44AF(1) to (5)
read as under:
44AF.(1) Notwithstanding anything to the contrary contained in
Sections
Income Tax Appellate Tribunal - Cochin
turnover from
which the income under section 44AF was arrived at. The
ACIT further observed that failure to keep, maintain ... basis of return filed by the assessee under
section 44AF could not be verified. Now, the assessee has
come
Income Tax Appellate Tribunal - Chennai
computed the income @ 5 per cent under Section 44AF instead @ 8 per
cent under Section 44AD. Whereas income in respect ... payments were required to be assessed under
Section 44AF, which is applicable in respect of retail traders. It was
pleaded
Income Tax Appellate Tribunal - Chandigarh
profit was computed by applying the provisions of section 44AF
to ascertain the net profit from business. The AO, after ... applying profit of 5% as per section 44AF,
the net profit was determined at Rs.1,53,308/-. The penalty
Income Tax Appellate Tribunal - Agra
profits as per the provisions of Sections 44AE
and 44AF of the Act while the appellant had shown ... impression that under the
provisions of Sections 44AE and 44AF, there was no obligation for
the appellant to declare
Income Tax Appellate Tribunal - Pune
According to the AO the provisions of Section 44AF are
attracted in the case of the assessee because the assessee ... cent, therefore, under Sub-section (5) of Section 44AF the
assessee was required to get the accounts audited and such
Income Tax Appellate Tribunal - Ranchi
income by declaring business income as per section 44AF. The said section
is a special provision for computing Profits ... total turnover. However, as per
sec.44AF(5), an assessee may claim lower profit than the one specified
Income Tax Appellate Tribunal - Vizag
total income at
Rs. 22,170 under Section 44AF. The assessment was completed under
Section ... fact declared the income in
accordance with Section 44AF being a retail trader in Children toys &
games with gross
Income Tax Appellate Tribunal - Hyderabad
Central Government Act Section 44AF(4) in The Telecom Regulatory Authority Of India Act, 1997
(4) The provisions of section
Central Government Act
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