https://www.taxtmi.com/caselaws?id=20772 Section 52(2) applies only where understatement of consideration for transfer of a capital asset is proved, and section 52(1) does not create a deeming fiction of income where no income has in fact accrued or been received. The burden of establishing taxability remains on the Revenue. On those principles, the invocation of section 52 was found unjustified on the facts discussed, and the claimed short-term capital loss was not liable to disallowance. en-us Fri, 29 Jan 1993 00:00:00 +0530 Tue, 17 Nov 2009 11:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20772 Section 52(2) applies only where understatement of consideration for transfer of a capital asset is proved, and section 52(1) does not create a deeming fiction of income where no income has in fact accrued or been received. The burden of establishing taxability remains on the Revenue. On those principles, the invocation of section 52 was found unjustified on the facts discussed, and the claimed short-term capital loss was not liable to disallowance. Case-Laws Income Tax Fri, 29 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20772