Undisclosed income - Assessee cannot be slapped with tax ...

Assessee Not Liable for Tax Due to Lack of Document Presentation; Section 292CA Presumption Inapplicable.

September 6, 2022

Case Laws Income Tax AT

Undisclosed income - Assessee cannot be slapped with tax liability based upon the information contained in the document which could not be produced before the Bench despite the specific direction. We note that the search team has not found any cash, money and not other assets corroborating the said addition in the hands of the assesse. Therefore presumption of section 292CA of the Act cannot be applied in this case - AT

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Undisclosed income - Assessee cannot be slapped with tax ...

Assessee Not Liable for Tax Due to Lack of Document Presentation; Section 292CA Presumption Inapplicable.

September 6, 2022

Case Laws Income Tax AT

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