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TMI Blog2010 (8) TMI 255X X X X Extracts X X X X X X X X Extracts X X X X ..... on the gross receipt - Held that: - In our considered view, since the assessment order was passed under Section 144 of the Act, the assessing authority has rightly adopted the status of AOP in view of Section 184 (5) of the Act as it existed at the relevant time. X X X X Extracts X X X X X X X X Extracts X X X X ..... of salary and interest to the partner in accordance to the provision under Section 40 (b) (5) of the Income Tax Act. Being aggrieved by the order of the CIT (Appeal) ,the Income Tax Officer filed Appeal no. 3080 of 2005 before the Tribunal disputing the status adopted as partnership firm by the CIT(Appeal) and further 8 % rate applied to the gross receipt under the provision of Section 44AD of the Act. The assessee also filed cross objection disputing the determination of the profit. The Tribunal, by the impugned order, has dismissed the appeal of the appellant; whereas partly allowed the appeal of the department. The Tribunal has upheld the estimate of income by applying 8% net profit on the total receipt. The Tribunal further held that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent year and, thereupon, the firm shall be assessed in the same manner as an AOP, and all the provisions shall be applied accordingly. Therefore the appellant has been rightly assessed to tax in the status of AOP in view of the provision under Section 184 (5) of the Act. Having heard learned counsel for the parties, we are of the view that there is no error in the order of the Tribunal. We do not find any substance in the argument of learned counsel for the appellant. The assessment order reveals that it was passed under Section 144 of the Act as the appellant has failed to comply with the requirement of the notice and has not produced books of account. at any stage. The appellant has not challenged the assessment order passed under Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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