https://www.taxtmi.com/caselaws?id=220053 A seized document carries a rebuttable presumption of truth, but a deeming addition can be sustained only to the extent it establishes a taxable nexus with the assessee. On the first printout, the cash entries were read as receipt of money from a named source for use by the assessee, and the assessee failed to explain the nature and purpose of the funds; the addition was therefore sustained only to the extent actually shown as received by the assessee, with the balance deleted. On the second printout, no independent material linked the assessee to the stated property payments, so the deletion of the addition was upheld. en-us Wed, 26 Dec 2012 00:00:00 +0530 Sat, 05 Jan 2013 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220053 A seized document carries a rebuttable presumption of truth, but a deeming addition can be sustained only to the extent it establishes a taxable nexus with the assessee. On the first printout, the cash entries were read as receipt of money from a named source for use by the assessee, and the assessee failed to explain the nature and purpose of the funds; the addition was therefore sustained only to the extent actually shown as received by the assessee, with the balance deleted. On the second printout, no independent material linked the assessee to the stated property payments, so the deletion of the addition was upheld. Case-Laws Income Tax Wed, 26 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220053