Held that income to be estimated at 8 percent on contract receipt and only 5 percent on sub-contract receipts. Scrap sales to be treated as business receipts and taxable at 8 percent. (AY.2010-11, 2011-12)
TCI Constructions Ltd. v. Dy. CIT (2021) 87 ITR 45 (SN) (Hyd.)(Trib.)
S. 44AD : Presumptive taxation-Contract receipts-Contract and sub-contract-Income to be estimated at 8 percent on contract receipt and 5 percent on sub-contract receipts only-Scrap sales to be treated as business receipts taxable at 8 percent.