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Section 16 in The Finance Act, 2018 16. Amendment of section 44AE. - In section 44AE of the Income-tax Act, with effect from

Engg. Ltd whereas assessee has filed his return of income u/s 44AE of the Income Tax Act and he is not required to maintain ... books of accounts as per provisions of section 44AE of the Income Tax Act, 1961. 2 ITA Nos. 451, 814 & 815/JP/2018 Shri

assessee and that assessee shown the income of Dumpers Plying u/s 44AE of the Income tax Act. Hence this addition ... added by the AO as additional income from Dumper Plying. Applying section 44AE of the Income tax Act. AO estimated the income of Dumpers Plying

assessee under presumptive tax method prescribed u/s 44AE of the Act. During the course of assessment proceedings, the assessee produced bank statements ... books of accounts and income from transport business was offered u/s 44AE of the Act by the assessee. The trucks were acquired

income of Rs. 1,20,000/- as per the provisions of section 44AE of the Act. However, the AO during the assessment proceedings requires ... offered in the income tax return under the provision of Section 44AE of the Act. 4.2 The assessee in compliance thereto justified that

income from transport business was treated separately and accordingly, shown u/s 44AE of the Act. The Assessing Officer added the income from transport business ... which according to assessee is to be assessed to tax u/s 44AE , had ever been debited. Therefore, according to the CIT(A), claiming

from Mathosri Road Lines was admitted u/s. 44AE, that the total receipts from plying of the six own vehicles of M/s. Mathosri Road ... lorries 'for which the income is disclosed u/s. 44AE. This business had not been given any separate name and the lorries had been

income to the extent as per provisions of law u/s 44AE i.e. 4,500/- per month from one Light transport vehicle and instead ... provisions of law u/s 44AE while assessing the income of appellant. 4. On the facts & circumstances prevailing in the case

receipts is deemed to be the profits and gains from business. Section 44AE provides presumptive provisions for the assessee engaged in the business of plying ... applicable for any business (excluding a business already covered under section 44AE ) which has a maximum gross turnover/gross receipts of 40 lakhs

trucks which are plied and income on the basis of Section 44AE was offered for taxation. The AO, however, did not accept the contention ... assessee owned six trucks only and net income was declared u/s 44AE of the Act. Therefore, there is no requirement for the assessee