Scope of adjustments u/s. 143(1) - Applicability of presumptive provisions of tax u/s. 44ADA - The...

Scope of adjustments u/s. 143(1) - Applicability of presumptive provisions of tax u/s. 44ADA - The Tribunal observed that the appellant had not disclosed the income on a presumptive basis u/s. 44ADA but under u/s. 44AD. It was deemed that the Central Processing Centre (CPC) had exceeded its scope of power of adjustment prescribed u/s. 143(1) by invoking the provisions of section 44ADA. Consequently, the adjustment made by the CPC was set aside, and the appeal was allowed. .....

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