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Section 44AE of the Income-tax Act, 1961 - Transporters Where Tribunal had found as a fact that total number of tankers owned by assessee transporter did not exceed 10 at any point of time during relevant period, provisions of section 44AE would not applicable in case of assessee The assessee was a transport contractor and was engaged in the business of supplying oil tankers on hire to various oil companies. The return of income was filed by the assessee declaring total income of Rs. 1,96,590. No books of account were stated to have been maintained by him on the plea that his case was covered under the provisions of section 44AE. The Assessing Officer reached the conclusion that provisions of section 44AE were not applicable in the case of the assessee and the assessee was required to maintain regular books of account and get the accounts audited as per sections 44AA and 44AB. The Assessing Officer estimated the total income of the assessee on the basis of gross receipts earned by him by applying a net profit of 8 percent and made additions. The Tribunal found that the dispute was essentially factual in nature and as per the computation of income filed by the assessee, the total number of tankers owned by the assessee did not exceed 10 at any time during the previous year relevant to the assessment year under consideration and there was no material brought on record by the revenue to controvert the said finding and therefore, the provisions of section 44AE would be applicable to the assessee. Held that there was no infirmity in order of Tribunal. Yogesh Putney for the Appellant. JUDGMENT Rakesh Kumar Garg, J.:-The Revenue has filed the present appeal under section 260A of the IT Act, 1961 (for short 'the Act') against the order dt. 31st Jan., 2007 passed by the Income-tax Appellate Tribunal, Delhi Bench (I), Delhi (for short 'the Tribunal'), in ITA No. 122/Del/2005 for the asst. yr. 2001-02 raising the following proposed substantial questions of law: "(1)Whether on the facts and in the circumstances of the case, the Hon'ble Tribunal has erred in law and on facts in upholding the order of CIT(A) in deleting the addition of Rs. 37,09,580 computed on the basis of…

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