https://www.taxtmi.com/caselaws?id=14153 Cash credits recorded in books seized during a search raised the issue whether the statutory presumption under s.132(4A) precluded an addition under s.68. The HC held that s.132(4A) creates a rebuttable presumption limited to search-and-seizure proceedings and provisional adjudication under s.132(5), and does not override the general rule in s.68 applicable in regular assessment requiring the assessee to satisfactorily explain the nature and source of credits; consequently, the addition under s.68 could be sustained and the Tribunal's view on non-applicability of s.132(4A) was upheld in favour of the Revenue. A further question turning on factual appreciation was declined as it was essentially a question of fact. en-us Tue, 06 Feb 2001 00:00:00 +0530 Mon, 05 Jan 2026 20:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14153 Cash credits recorded in books seized during a search raised the issue whether the statutory presumption under s.132(4A) precluded an addition under s.68. The HC held that s.132(4A) creates a rebuttable presumption limited to search-and-seizure proceedings and provisional adjudication under s.132(5), and does not override the general rule in s.68 applicable in regular assessment requiring the assessee to satisfactorily explain the nature and source of credits; consequently, the addition under s.68 could be sustained and the Tribunal's view on non-applicability of s.132(4A) was upheld in favour of the Revenue. A further question turning on factual appreciation was declined as it was essentially a question of fact. Case-Laws Income Tax Tue, 06 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14153