24 October 2013
we have filed income tax return for ass. year 2012-13 in status of firm. we declared the net income u/s.44 AD more than 8% and allowing remuneration and interest to partner and on net incone we have paid income tax. The case was under scrutiny by the department. Our question is that the AO or Department can select the cases which are filed u/s.44 AD declaring the profit @8%. Also what remedies available to the assessee firm.
CAclubindia
