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![List of Businesses that cannot opt for presumptive taxation scheme u/s 44AD [Defective ITR-4]](/_next/image?url=https%3A%2F%2Fassets.studycafe.in%2Fuploads%2F2022%2F06%2FSTUDYCAFE-IMAGES-Autosaved-92.jpg&w=3840&q=75)
List of Businesses that cannot opt for presumptive taxation scheme u/s 44AD [Defective ITR-4]

Rate of depreciation is to be applied on functionality test and not merely on amenities test

Entire Deposits in Bank cannot be Taxed, Only Peak Credit can be Taxed: ITAT

Addition Made Merely on TDS certificate is Unjustified and Liable to be Deleted: ITAT

No penalty u/s 271(1)(b) where the assessment is completed u/s 143(3)
