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    Income Tax

    The presumption u/s 292C of the Act is rebuttable presumption...

    Income Tax Act Section 292C: Rebuttable presumption not enough as denial of ownership leads to no tax additions.

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    Income TaxMay 30, 2017Case LawsAT

    The presumption u/s 292C of the Act is rebuttable presumption and does not lead to a conclusive evidence. The assessee from the very beginning denied that the documents belonged to him and the AO made no effort to find out the real truth - No additions - AT

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