"Mr. Rushabh Mehta is a Chartered Accountant and a fellow member of the Institute of Chartered Accountants of India having passed his CA in 2009. Presently, he is a partner in SGCO & Co. LLP, Chartered Accountants looking into the Direct Taxation matters. He is associated with this firm since nearly a decade and have a wide experience in the field of income tax. He handles all facets of the direct taxation work. Apart from the routine work of return filing, reviewing tax audits, advisory work; he is more inclined into the litigation practice and regularly appears before the CIT(A) and Income Tax Appellate Tribunal. Several decisions argued by him in ITAT are reported in Taxmann and taxindiaonline. He is also regularly writing articles on various issues of income tax and carries out internal training of the employees and article students in his firm. "
Recent ITAT rulings clarify that presumptive taxation depends on statutory classification under the Income Tax Act. The key takeaway is that business income cannot be reclassified as professional income merely because services are rendered.
Reading a decision is one thing and interpreting the same is another, isn’t it? Many times, verdict of the decisions written itself per se do not give the correct meaning until the same is read in a proper context or perspective with the facts of each case.
