https://www.taxtmi.com/highlights?id=59651 Undisclosed turnover - Estimation of income - The presumptions u/s. 292C are rebuttable presumptions and they do not lead to conclusive evidence. The assessee has right to rebut the presumption. In the present case, since the assessee has not rebutted the presumption, CIT(A) has given a direction to estimate the income on the turnover @ 5% as income of the assessee. - AT en-us Mon, 13 Sep 2021 13:16:30 +0530 Mon, 13 Sep 2021 13:16:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59651 Undisclosed turnover - Estimation of income - The presumptions u/s. 292C are rebuttable presumptions and they do not lead to conclusive evidence. The assessee has right to rebut the presumption. In the present case, since the assessee has not rebutted the presumption, CIT(A) has given a direction to estimate the income on the turnover @ 5% as income of the assessee. - AT Highlights Income Tax Mon, 13 Sep 2021 13:16:30 +0530 https://www.taxtmi.com/highlights?id=59651