2012 (7) TMI 1181

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....the Respondent : Shri S.S. Jha, Sr. D.R. ORDER PER SHRI MUKUL Kr. SHRAWAT, JUDICIAL MEMBER : This is an appeal at the behest of the Assessee which has emanated from the order of Learned CIT(Appeals)-XV, Ahmedabad dated 25/06/2010 and the only grievance is in respect of confirmation of penalty levied u/s. 271(1)(c) of Rs. 81,288/-. 2. Facts in brief as emerged from the corresponding pen....

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....Chaudhary vs. ITO has finally held as under:- "4. We have carefully considered the arguments of both the sides and perused the material placed before us. It is not in dispute that the assessee was plying the goods carriage which were four. Therefore, the number of goods carriages plied by the assessee was well within the ambit of the section 44AE. The Assessing Officer has rejected the bo....

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....he income of a transporter comes, Section 44AE is a good guideline in the case of transporter who owns less than ten goods carriage. In view of the above, we direct the AO to determine the income of the assessee as per the section 44AE of the IT Act." 4. After hearing the submissions of both the sides, we are of the view that the Tribunal has altered the very basis of the addition as made by th....