Assessee was carrying on business of digital marketing. Assessee claimed that since its turnover was below Rs. 5 crores and cash transactions was below 5 per cent of its turnover, it was not liable to file audit report in terms of first proviso to section 44AB(a). Assessing Officer held\u00a0 that assessee carried on business of Digital Marketing and it would come under category of profession and passed the assessment order. On writ\u00a0 the Court held that\u00a0 Digital Marketing cannot be treated as profession, but it should be treated as business and thus, merely because assessee carried on digital marketing business through computers, it could not be treated as profession.Since assessee’s turnover was below Rs. 5 crores and cash transaction was below 5 per cent on both aspects of expenses and receipts and everything was carried on through bank transactions, assessee was not required to file an audit report and was exempted for same. Matter was remanded back to Assessing Officer for fresh consideration. (AY. 2021-22)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 44AB : Audit of accounts-Business-Profession-Digital marketing\u2014Digital marketing cannot be treated as profession-It should be treated as business\u2014Turnover below 5 crores-Assessee was not therefore liable to file audit report in terms of proviso to s. 44AB(a).[S.28(i), Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-59419","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fsn","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=59419"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59419\/revisions"}],"predecessor-version":[{"id":59420,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59419\/revisions\/59420"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}