TMI Blog2004 (12) TMI 313X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 1996-97. The common grounds raised by the Revenue are as follows: "1. The learned CIT (Appeals) erred in holding that the Assessing Officer ought to have verified the accounts maintained by the assessee in respect of the New lorry KL-11C-3654 and in directing the Assessing Officer to accept the income of that lorry on the basis of accounts maintained by the assessee after allowing depreciatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... receipts was rightly computed invoking the provisions of section 44AE." 2. There is a delay of 8 days in filing these appeals. We are satisfied that the delay was caused for valid reasons. Therefore, the delay is condoned and the appeals are admitted. 3. The issue involved is whether the income from a new lorry purchased by the assessee should be assessed under section 44AE or under the norma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reon. The Revenue is aggrieved and therefore these appeals before us. 7. The provisions under section 44AE are special provisions for computing profits and gains of business of plying, hiring or leasing goods carriages. A scheme of compounding of income is provided therein. An amount of Rs. 2,000 per month per lorry is presumptively determined as the income of the assessee. Once income is presum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid business and the tax treatment of all those lorries need to be on a uniform manner. 9. The claim made by the assessee in the present case against the central theme of section 44AE as explained in the above paragraph. As far as the old two lorries are concerned, the assessee wanted the income to be estimated under section 44AE. This is because there cannot be much claim by way of depreciation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailable. The Assessing Officer, has already made a finding that in the case of new lorry also, the assessee has not maintained accounts. Therefore, we find that the income from all the three lorries need to be determined under section 44AE. 12. In the facts and circumstances of the case, we set aside the order of the Commissioner (Appeals) on this point and restore the computation of income from ..... X X X X Extracts X X X X X X X X Extracts X X X X
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