Section 44AD: Mere submission of Balance sheet not proves Maintenance of Books of Accounts

Mr. Pradeep Jain Vs ITO (ITAT Delhi) The assessee has filed the return of income for assessment year under appeal declaring income of Rs.9,63,920/-, out of which, income was declared at Rs.9 lakhs under section 44AD of the I.T. Act, 1961. In subsequent A.Y. 2016-2017 also, assessee declared income under section 44AD of the I.T. Act which have not been disputed by the revenue authorities. The assessee filed details of sales and purchase before A.O. giving the names of parties, their telephone number and address. If the A.O. had any doubt about the same A.O. could have made direct inquiry from t...