https://www.taxtmi.com/caselaws?id=59424 Income from a truck plying business cannot be mechanically assessed under the presumptive scheme of section 44AE where the assessee's returned income is supported by accounts and the dispute concerns whether actual profit is lower than the presumptive figure. Section 44AE(6) contemplates regular assessment under section 143(3) when the assessee seeks to show a lower actual profit, and the assessing authority must give a fair opportunity to substantiate that claim. As the books of account were not produced despite opportunities, the matter was remitted for fresh determination after adequate opportunity to the assessee, and the earlier resort to section 44AE was treated as improper. en-us Mon, 20 May 2002 00:00:00 +0530 Wed, 29 Dec 2010 16:08:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59424 Income from a truck plying business cannot be mechanically assessed under the presumptive scheme of section 44AE where the assessee's returned income is supported by accounts and the dispute concerns whether actual profit is lower than the presumptive figure. Section 44AE(6) contemplates regular assessment under section 143(3) when the assessee seeks to show a lower actual profit, and the assessing authority must give a fair opportunity to substantiate that claim. As the books of account were not produced despite opportunities, the matter was remitted for fresh determination after adequate opportunity to the assessee, and the earlier resort to section 44AE was treated as improper. Case-Laws Income Tax Mon, 20 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59424