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44 ae

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(Querist)
16 November 2013 Assesee has got 5 heavy vehicles. During the assessment year 2013-14 the vehicles generated an income of 600000/- which income i need to disclose whether this 600000/- or 5*12*5000=300000. please give me a reply as soon as possible.. its urgent..
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CA.Manoj Jaiswal

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CA.Manoj Jaiswal (Expert)
16 November 2013 As per section 44 AE the profits and gains from vehicles shall be 5*12*5,000= 3,00,000/-
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 November 2013 agreed with Manoj.
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