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Case Law Details

Case Name : Unity Automation Solution Ltd. Vs ITO (ITAT Delhi)
Appeal Number : ITA No. 4816/Del/2019
Date of Judgement/Order : 20/03/2020
Related Assessment Year : 2010-11
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Unity Automation Solution Ltd. Vs ITO (ITAT Delhi)

The assessee company was in the business of Sale and Service of CCTV cameras and other security equipment’s. Total receipts for the year under consideration was Rs. 3,54,30,497/- and still they have not filed return under income tax. After issuance of notice u/s 147 they have filed return with loss and audited Financial Statement. A.O. rejected this loss and covered this case u/s 44AD by showing 8% profit.

ITAT held that A.O. rightly invoked the provisions of Section 44AD and applied rate of 8% on the contract receipts of the assessee during the year under consideration. Assessee’s request to restrict the rate from 8% to 3% on the contract receipts which was never substantiated by the books of accounts nor was a part of the provisions, can not be entertained.

FULL TEXT OF THE ITAT JUDGEMENT

This appeal is filed by the assessee against the order dated 27/03/2019 passed by CIT(A)-16 New Delhi for Assessment Year 2018-19.

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