U/s 44ae

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 February 2015 Dear sir/madam
please confirm in case of person having 8 truck and two sold now there after he purchases 4 new truck. i.e. situation is 8-2=6+4=10. as per the act of IT it should not exceeds from 10 at any movement of the time in the year. so the section 44AE is still applicable. or it will not applicable. in my opinion it will applicable as usual as purchases have been made after sold old truck and not exceeds 10 in any point of time. please confirm.
tnankx in advance.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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17 February 2015 Yes you are correct.

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