No invocation of section 68 in case return of income filed u/s 44AD

Dineshkumar Verma Vs ITO (ITAT Mumbai) Conclusion: Since section 44AD did not obligate assessee to maintain books, the provisions of section 68 could not be invoked where assessee had filed return of income under the provisions of section 44AD without maintaining books of account. Held: The issue arose for consideration was whether the provisions of section 68 were attracted where assessee had not maintained books of account and had filed return of income on the basis of presumptive income under section 44AD.  In the present case undisputedly assessee had not maintained books and had offered ...