Taxpayer Avails Assessment u/s 44 AD without maintaining Regular Day Books of Account: ITAT dismisses appeal

The Income Tax Appellate Tribunal (ITAT) dismissed an appeal where a taxpayer opted for assessment under Section 44AD without maintaining regular day books of account. The ITAT upheld the Income Tax Department's decision, emphasizing that Section 44AD requires maintaining books of account to avail of presumptive taxation benefits. The taxpayer's failure to do so invalidated their claim under this provision. This case underscores the importance of adhering to statutory requirements for tax assessments.