ITAT Grants Presumptive Taxation Under Section 44ADA for Bitcoin Referral Commission

Advertisement Vijay Bahadur Vs ITO (ITAT Chandigarh) The Income Tax Appellate Tribunal (ITAT), Chandigarh, partly allowed the assessee’s appeal for Assessment Year 2018–19 against the order of the Commissioner of Income Tax (Appeals), NFAC, arising from an assessment framed under Sections 147 read with 144B of the Income-tax Act. The assessee had not filed a return of income. The case was reopened after it was found that the assessee had traded in bitcoins amounting to ₹25.07 lakh. The assessee stated that he was engaged in a bitcoin investment and trading referral network, arranging ...