https://www.taxtmi.com/caselaws?id=288700 The High Court dismissed the Revenue's appeal, upholding the appellate bodies' discretion in treating the document as a "dumb document" and rejecting the Assessing Officer's additions to the assessee's income. The Court emphasized that the document lacked sufficient evidentiary value to support the AO's conclusions and that the presumption under Section 292C is rebuttable. The High Court found no substantial question of law and affirmed the Commissioner and ITAT's findings of no stock discrepancy or unaccounted transactions linked to the document. en-us Thu, 15 Jun 2017 00:00:00 +0530 Wed, 24 Jun 2020 09:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288700 The High Court dismissed the Revenue's appeal, upholding the appellate bodies' discretion in treating the document as a "dumb document" and rejecting the Assessing Officer's additions to the assessee's income. The Court emphasized that the document lacked sufficient evidentiary value to support the AO's conclusions and that the presumption under Section 292C is rebuttable. The High Court found no substantial question of law and affirmed the Commissioner and ITAT's findings of no stock discrepancy or unaccounted transactions linked to the document. Case-Laws Income Tax Thu, 15 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288700