https://www.taxtmi.com/caselaws?id=333232 The High Court upheld the Tribunal's decision in a tax case involving the distinction between 'presumptive charge' of income under Section 44AF and 'chargeable income' under Section 29 of the Income Tax Act, 1961. The appellant's failure to provide credible evidence linking sales to cash deposits led to the assessing officer invoking Section 69A to add the deposits to the appellant's income. The Tribunal's decision, which differed from a previous ruling, was upheld by the High Court, emphasizing the importance of substantiating claims under presumptive taxation provisions with credible evidence. The appeal was dismissed as no substantial question of law was found. en-us Tue, 27 Sep 2016 00:00:00 +0530 Sat, 13 May 2017 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333232 The High Court upheld the Tribunal's decision in a tax case involving the distinction between 'presumptive charge' of income under Section 44AF and 'chargeable income' under Section 29 of the Income Tax Act, 1961. The appellant's failure to provide credible evidence linking sales to cash deposits led to the assessing officer invoking Section 69A to add the deposits to the appellant's income. The Tribunal's decision, which differed from a previous ruling, was upheld by the High Court, emphasizing the importance of substantiating claims under presumptive taxation provisions with credible evidence. The appeal was dismissed as no substantial question of law was found. Case-Laws Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333232