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44ab and 44ae

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 October 2018 DEAR EXPERTS

TURNOVER OF THE ASSESEE IN TRADING BUSINESS IS RS 3CRORES AND HENCE LAIBLE FOR TAX AUDIT. ASSESSE PURCHASED ONE LORRY IN THE CURRENT YEAR. CAN THE ASSESEE OPT FOR 44AE FOR THE SINGLE LORRY OR BOOKS TO BE MAINTIANED FOR THAT LORRY.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 October 2018 44AE can be opted. Inference :- ICAI Publication.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 October 2018 Agreed with the above reply.
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