holding that
the definition of goods carriage as provided in section
44AE(7) is also applicable u/s 194C(6) since the payment
have been ... assigned to it
in the Explanation to Sub section (7) to section 44AE . The Assessing officer
further observed that the expression 'goods carriage
further assessee was not covered by the
provisions of section 44AE and further holding that assessee
should have deducted tax under section 194C ... Assessing Officer has also invoked
sec.44AE to suggest that the transporters in question
did not qualify for the benevolence of sec.194C
income therefrom had been declared on
estimate basis under Section 44AE of the Income Tax Act (for short
the 'Act'). The remaining ... receipts from the trucks were declared on
estimate basis under Section 44AE . On the other hand, huge
.
expenses of `1,18,82,601/- were debited
income therefrom had been declared on
estimate basis under Section 44AE of the Income Tax Act (for short
the 'Act'). The remaining ... receipts from the trucks were declared on
estimate basis under Section 44AE . On the other hand, huge
.
expenses of `1,18,82,601/- were debited
following three heads, namely:-
a) Income from spare parts business u/s.44AE Rs.63,511/-
b) Income from plying of 10 trucks ... 44AE Rs.4,20,000/-
c) Income from other truck-commission Rs.2,98,834/-, and
Interest income
that income from Tanker shown is
assessable as per provision of section 44AE of the
Income Tax Act, 1961 and income shown by the
assessee ... Tanker is on higher side than what
is assessable as per section 44AE .
6. That, the appellant, craves leave to add or amend
the grounds
sand business of Rs. 1 lakh on presumptive basis u/s 44AE and 44AF
of the Act. The case was selected for scrutiny and notices ... lorries. The assessee was eligible to declare
presumptive income u/s 44AE of the Act at Rs. 84,000/- which is the
limit prescribed
rate was
applied by the assessee as per the provisions of section
44AE of the Income Tax Act then no further addition should
have been ... assessee
has declared income of Rs.2.10 lacs u/s 44AE of the Act @Rs.3,500/- per
month per truck resulting into income
computing income
from 4 (four) vehicles under section 44AE(7) without
cogent reasons and without giving findings that the
assessee had only declared his total ... further observed that
as per the provisions of Section 44AE , the income from plying,
hiring or leasing of vehicles, other than heavy goods vehicles
this manner, total income as per
9
section 44AE was worked out at Rs.26,000/- but the assessee disclosed the
income ... assessee has
disclosed income from trucks under the provisions of section 44AE of the
10
Act. Learned CIT(A) has decided the issue
