08 October 2008
Dear All From Today onwards I will Ask one question Daily from Direct Taxes. Dont think that i know the answer.
If possible please reply the source or relevant case laws for the answer:
Q. Whether in an assessment to which presuptive taxation u/s 44AD of Income Tac Act Applies, can AO make addition to income on the basis of admissions made by Assessee in Survey proceedings.
Q. A Practiicng CA go to USA for doing MBA, and he claimed the expenses on trip to USA as well as Expenes on stuides as deduction against his income from Profession. AO disallowed the above expenditure on the ground that MBA was altogether a new qualification, which had no connection with the profession of CA. Discuss.
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