Tribunal held that the assessee had offered profit at eight per cent. and the AO has accepted claim of exemption from maintenance of books as provided under S. 44AA(2)(iv) of the Act. Addition confirmed by CIT(A) is deleted . (AY.2009-10)
Indrani Devi v. CIT (2019) 70 ITR 42 (Patna) (Trib.)
S. 68 : Cash credits-Presumptive taxation-Non-maintenance of books of account-Addition cannot be made as cash credits. [S. 44AA(2)(iv)]