Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2023 Year 2023 This

Rejection of books of accounts - Presumption to the books of ...

Income Tax

July 29, 2023

Rejection of books of accounts - Presumption to the books of accounts u/s 132(4A) - . The contents of books and documents found in possession and control of searched person thus shall be deemed to be true and the presumption would apply to both sides and such presumption thus, in effect, a double edged sword. - AT

View Source

 


 

You may also like:

  1. Accommodation of bogus transaction - entry operator - Presumption of Section 132(4A) stood against the assessee - complete onus to negate the same was on assessee which...

  2. In the light of the presumption under section 132(4A), the assessee ought to have produced other documents to disprove the entries made in the loose sheets - HC

  3. Addition under Section 69 - presumption u/s 134(4A)/292C is available only in the case of the person from whose possession and control the documents are found and it is...

  4. Assessment passed u/s.153A - Presumption in case of seized documents - Assessee’s son was also covered under the search in the same premises and the document found from...

  5. Legal presumption u/s. 132(4A) &s.292C - whether cannot be given restrictive interpretation so as to consider applicable only to the searched person and not to other...

  6. Validity of assessment u/s 153A - ‘Document’ was seized during the course of the search proceedings from the premises of Cosmos group, therefore, as per Sec. 132(4A)(i)...

  7. Onus lay upon Assessee to displace said presumption. As we have seen that Assessee gave explanation disowning documents stating that same related to some others but...

  8. Validity of assessment u/s 153C - real owner of the document seized - the presumption cast under provisions of section 132(4A) of the Act, comes into play. - even the...

  9. Search and seizure action u/s.132 - addition u/s 69 - Presumption u/s. 132(4A) is available only against the person from whose possession the document is found and not...

  10. Rejection of books of accounts - This is case of action u/s 132 by the revenue wherein the cash kept at the residence of the employee could well be examined at the...

 

Quick Updates:Latest Updates