revised
return was at presumptive rates of tax as specified under section
44AE of the Act, which claim of the assessee - appellant had been
arbitrarily ... rejected without understanding the legal mandate of the
provisions of section 44AE of the Act and as such, the additions so
made by learned
reopening of assessment by issuing notice u/s
sec 148 of Act and thereby framing assessment ... various expenses, then, income should be
computed by taking guidance under section 44AE of the Act. The
ld.counsel for the assessee contended that
erred in not completing the assessment by applying the
provision of section 44AE of the Act, 1961
2. For that on the facts ... vehicles was offered by the assessee
as per the provisions of section 44AE of the Act and accordingly
income from 5 trucks owned
returned income for the
impugned assessment year on the basis of section 44AE of the Act.
Apart from income earned through supply of water ... 44AE as was applicable in assessment year 2005-06
is reproduced here-in-below :
"44AE. (1) Notwithstanding anything to the contrary contained in
sections
wrong in estimating the
Net Profit @8% as per section 44AE of the I.T. Act, 1961 is totally erroneous,
perverse and illegal ... facts of the case, there is no application of sec. 44AE of the l. T.
Act , as the appellant maintained books of accounts audited with
income from the business of plying trucks under
the provisions of section 44AE. While framing the assessment the
Assessing Officer made disallowance ... quarrel on the point that as per sub-section 3 of
section 44AE no deduction is allowable u/s 30 to 38 as the same
income from the business of plying trucks under
the provisions of section 44AE. While framing the assessment the
Assessing Officer made disallowance ... quarrel on the point that as per sub-section 3 of
section 44AE no deduction is allowable u/s 30 to 38 as the same
transportation of two wheelers. The assessee had applied the provisions
of Sec.44AE and had filed her return of income on 27.10.2006. The return ... that the assessee had filed her return applying
the provisions of Sec.44AE of the Act. However, as the assessee had
calculated her total gross
same were not offered
on presumptive taxation basis as provided in section 44AE of the Act. He,
therefore, reopened the assessment after recording the reasons ... entitled to claim on estimation as in sub-
sec. (2) of sec. 44AE of the Act, h e is required to get his accounts
audit
maintaining books of account and
had computed income under section 44AE of the Act. The plea of assessee was
that where the books of account ... allowed from the profit, in view of provisions of section
44AE(4) of the Act. He further contended that accumulated depreciation was
nothing but available
