Deemed profits for goods carriage set to a uniform monthly minimum or actual receipts, and heavy vehicle distinction removed. Amendment substitutes the deemed profit rule in section 44AE to prescribe a uniform monthly deemed profit per goods carriage or the amount claimed as actually earned by the assessee, whichever is higher, and removes the distinction between heavy goods vehicles and other vehicles while aligning the Explanation with the Motor Vehicles Act definition of 'goods carriage.'
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Provisions expressly mentioned in the judgment/order text.
Deemed profits for goods carriage set to a uniform monthly minimum or actual receipts, and heavy vehicle distinction removed.
Amendment substitutes the deemed profit rule in section 44AE to prescribe a uniform monthly deemed profit per goods carriage or the amount claimed as actually earned by the assessee, whichever is higher, and removes the distinction between heavy goods vehicles and other vehicles while aligning the Explanation with the Motor Vehicles Act definition of "goods carriage."
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