Taxpayer's Income Increased via Loose Papers; Section 292C Presumption Applied; ITAT Upholds Partial Relief by CIT(A).

Taxpayer's Income Increased via Loose Papers; Section 292C Presumption Applied; ITAT Upholds Partial Relief by CIT(A). https://www.taxtmi.com/highlights?id=51885 Additions made on the basis of loose papers found and impounded from the premises of the assessee - Presumption u/s 292C - CIT(A) applying the telescoping reduced the addition giving partial relief to the assessee - ITAT confirmed the order of CIT(A) - Tribunal has given cogent reasons and arrived at conclusion on the basis of the materials and the fact found on record - HC en-us Wed, 19 Feb 2020 16:31:17 +0530 Wed, 19 Feb 2020 16:30:06 +0530 TaxTMI RSS Generator Taxpayer's Income Increased via Loose Papers; Section 292C Presumption Applied; ITAT Upholds Partial Relief by CIT(A). https://www.taxtmi.com/highlights?id=51885 Additions made on the basis of loose papers found and impounded from the premises of the assessee - Presumption u/s 292C - CIT(A) applying the telescoping reduced the addition giving partial relief to the assessee - ITAT confirmed the order of CIT(A) - Tribunal has given cogent reasons and arrived at conclusion on the basis of the materials and the fact found on record - HC Highlights Income Tax Wed, 19 Feb 2020 16:31:17 +0530 https://www.taxtmi.com/highlights?id=51885