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Legitimate Tax Planning Not Evasion: ITAT Affirms Presumptive Tax on Truck Business
Case Law Details
- Case Name
- DCIT Vs Sukhbir Singh Chabra HUF (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs Sukhbir Singh Chabra HUF (ITAT Delhi)
ITAT Delhi Upholds 44AE Presumptive Income — Rejects Revenue’s Allegation of Tax Evasion in Related-Party Transport Business
The Revenue appealed against the order of CIT(A) deleting an addition of ₹1.69 crore made as unexplained income in the case of the Assessee-HUF engaged in truck transportation. AO had alleged that Assessee, a related party of ABC Transport Co. Pvt. Ltd., was part of a group arrangement to divert profits using presumptive taxation u/s 44AE & 44AD. He treated 50% of receipts from the related concern (₹3.38 cro...
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