No addition for cash deposits when Assessee offered Income u/s 44AE

Bijoy Shribastab & Anr. Vs ITO (ITAT Kolkata) It is not in dispute that the assessee had not maintained books of accounts for his transport business. It is not in dispute that the assessee owns less than 10 vehicles and is accordingly entitled to offer income u/s 44AE of the Act. It is not the case of the revenue that the assessee’s disclosed income is not sufficient to meet the outgoings and investments made by the assessee. We find that no addition has been made towards unexplained investment u/s 69 of the Act. We find that the assessee had offered income from transport business u/s 44...