It is observed u/s 44AE that assessee must own less than ten goods carriages any time during the previous year.Now if the assessee owns the less than 10 goods carriages any time during the previous year but his turnover exceeds sixty lacs during previous year.Some confusion in mind regarding the applicability of the Sec 44AA,44AB an Sec 44AE.Nowhwere u/s 44AE it has been mentioned that for the applicability of sec 44AE the gross receipt must not exceed sixty lacs.But the Gross Receipt exceeds Sixty lacs the assessee has been falling under the criteria of sec 44AA and 44AB i.e maintainance of books of accounts and getting the books of accounts to be audited by the auditor respectively.
Can an assessee go for presumtive income u/s 44AE on assumption that all reqirements of said section has been satisfied?
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