Bang/2018
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existing section with new section. The following sub-sections of new
section 194C are relevant here: -
"194C ... goods carriage"
used in sec.194C(6) shall have meaning as defined in sub-section
(7) of section 44AE of the Act. The Explanation
declared an income of Rs. 1,25,000/-
under section 44AE of the Act. The assessee during the year has
deposited certain sum of money ... assessee was eligible for filing the return of income
under section 44AE of the Act, she was not under the obligation
to maintain the requisite
maintaining
regular books of account and declared income under section 44AD and under
section 44AE and same income was earned from the so called ... warranted."
12. When assessee declared his income u/s. 44AD and u/s. 44AE he is not
supposed to maintain books of account
section
194C of the Act;
(ii) denying the benefit of section 194 C(6) of the
Income-tax Act, 1961 by wrongly invoking
Section 194C ... around examining the provisions of Section 194C ,
194C (6) , 194C(7) and 201(1A) read with provisions of Section 44AE
directing the assessing
officer to compute the taxable income under section 44AE
of the Act considering the nature of assessees business.
The assessee rely ... assessee, guidance can be taken from the provision of Section 44AE
and presumptive rate of tax can be applied placing reliance on the
decision
first filed
the return of income under section 44AD which was
subsequently revised and filed under section 44AE. The
assessee has 11 trucks whereas ... that the provisions of section 44AB were not applicable to the
assessee as the return has been filed under section 44AE
since the assessee has estimated the income under presumptive
provisions under section 44AE of the Act only such income can be
taxed and therefore peak ... higher than the business income
offered by the assessee under section 44AE of the Act. However,
the income admitted by the assessee under section 44AE
provided in section 44AE of the Income-
tax Act. Sub-section (7) of section 44AE lays down that in case the assessee has
preferred ... entitled to claim on estimation as in
sub-section (2) of section 44AE of the Act he is required to get his accounts
audited under
income
as shown by the assessee and that the limit under section 44AE of the Act relates
to owner of less than ten trucks ... assessee submitted that even as per the provisions
of Section 44AE of the Act the income from plying of trucks should have been
computed
relying on the grounds submitted
that the assessee offered income under section 44AE of the Act
and hence no addition can be made even ... cash deposits without disturbing the profit
declared under presumptive scheme of Section 44AE of the Act.
During the hearing of the appeal, the Ld. Counsel
