https://www.taxtmi.com/caselaws?id=216281 Where the revenue invoked the presumption under s.132(4A) on seized books/documents, it was bound to give the presumption full effect and presume the truth of all entries, including expenditure, not merely receipts. If it alleged that commission, sundry, or "green box" expenses were inadmissible, excessive, or non-genuine, it had to rebut the presumed correctness by independent material; it could not, consistent with s.132(4A), shift the burden to the assessee to further substantiate entries already presumed true. Mere suspicion could not displace the statutory presumption, and the revenue also failed to show that any expense was prohibited by law or constituted an offence. Disallowance of the expenses under s.37(1) and the consequent addition were set aside in favour of the assessee. en-us Fri, 31 Aug 2012 00:00:00 +0530 Fri, 02 Jan 2026 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216281 Where the revenue invoked the presumption under s.132(4A) on seized books/documents, it was bound to give the presumption full effect and presume the truth of all entries, including expenditure, not merely receipts. If it alleged that commission, sundry, or "green box" expenses were inadmissible, excessive, or non-genuine, it had to rebut the presumed correctness by independent material; it could not, consistent with s.132(4A), shift the burden to the assessee to further substantiate entries already presumed true. Mere suspicion could not displace the statutory presumption, and the revenue also failed to show that any expense was prohibited by law or constituted an offence. Disallowance of the expenses under s.37(1) and the consequent addition were set aside in favour of the assessee. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216281