OM PARKASH vs. COMMISSIONER OF INCOME TAX-1 AAYAKAR BHAWAN JALANDHAR

Bench: MR. JUSTICE TEJINDER SINGH DHINDSA,MR. JUSTICE PANKAJ JAIN

Section 145(3) of the Act. The Assessee vide letter dated 16th November, 2016 filed through the Ld. Counsel, submitted that the assessment be completed by calculating NP rate of 8% of gross turnover since the turnover of the firm is below Rs.1.00 Crore as provided u/s 44AD of the Act. Net profit rate of 8% was accordingly applied

PR. COMMISSIONER OF INCOME TAX-I, JALANDHAR vs. JOGINDER SINGH CHATHA