Provision of sec. 68 Cannot be Invoked where Assessee filed Income Tax Return u/s 44AD on Presumptive Basis: ITAT [Read Order]

By Taxscan Team - On June 19, 2022 9:00 am - 2 mins read

Assessee - Return of Income - Presumptive Basis - ITAT - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal has held that provision of sec. 68 cannot be invoked where assessee filed return of income under section 44AD on presumptive basis. The appellate, Narendra Chandubhai Rafaliya, is an individual engaged in the business of carrying out job work of power coating. The assessee filed return of…

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