been
requisitioned under section 132A of the Act and, thus, provisions
18
ITA No.2001 & 3256/Del/2017
of section 292C(2) would apply ... assessee failed to rebut the presumption under section 132(4A) or
presumption under section 292C of the Act.
5.10 Further, we find that the conclusion
filed writ petition in Delhi
High Court (171 Taxman 194) against proceedings u/s
153C which was dismissed. The findings ... assessment order.
K. In view of the provisions of Section 132(4A) & 292C
of I.T.Act, the onus is upon the assessee
provision of Information Technology Act 2000 and Section 2(22AA) of the I.T.
Act and Section 292C of the IT Act.
3.2 Assessment Year ... provision of Information Technology Act 2000 and Section 2(22AA) of the I.T.
Act and Section 292C of the IT Act.
3.3 Assessment Year
Court ruled that "any proceedings under this Act
occurring in section 292C permit the Assessing Officer to invoke
the presumption that the seized document ... assessee
company and thus, in terms of section 132(4A) read with section
292C of the Act, contents of the documents are presumed
ambiguity about the
transaction between the parties then the provisions of Section 292C of
the Act cannot be invoked ... other hand, the A.O. has invoked the provisions of Section 292C of
the Act and presumed the document of the assessee. Thus
confirmed the action of the addition by adding presumption
under section 292C of the Act that the document found during
the course of survey ... course of a search under
section 132 .J
3.10 It may be noted here that section
292C of the l. T. Act was made applicable
section 132(4A) was not tenable. It was submitted that the
presumption under section 132(4A) read with section 292C was
not applicable as this ... placed reliance on the provisions of section 132(4A) read with
section 292C wherein there is a presumption that the document
belongs to the person
Shri Mohd. Shafique, Bhopal vs The Acit 3(1), Bhopal on 30 April, 2019
[IT
booking of flats, the CIT(A) held that the provisions of Section 292C
of the Act raise a presumption that the contents of books ... year 2009-10.
25. It is pertinent here to refer to Section 292C of the Act, which reads
as under:
"Presumption as to assets
never been found in possession of any cash, money, bullion etc. Section
292C is also not applicable as document was not found from the assessee ... submitted that presumption under section 292C is against the person from whom the
document was found. Further searched person has never stated or made
