https://www.taxtmi.com/caselaws?id=773179 The ITAT Delhi upheld addition u/s 68 for unexplained cash credit based on seized receipt dated 13.05.2008 acknowledging "on money" of Rs. 4.25 crores. The tribunal rejected assessees' contention that no amount was received, applying section 292C presumption regarding seized documents. While CIT(A) had restricted addition from Rs. 5.25 crores to Rs. 1.09 crores, ITAT modified it to Rs. 4.25 crores as per the actual receipt amount, with 50% addition to each assessee given their joint acknowledgment and failure to rebut statutory presumptions. en-us Fri, 27 Dec 2024 00:00:00 +0530 Tue, 17 Jun 2025 13:15:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773179 The ITAT Delhi upheld addition u/s 68 for unexplained cash credit based on seized receipt dated 13.05.2008 acknowledging "on money" of Rs. 4.25 crores. The tribunal rejected assessees' contention that no amount was received, applying section 292C presumption regarding seized documents. While CIT(A) had restricted addition from Rs. 5.25 crores to Rs. 1.09 crores, ITAT modified it to Rs. 4.25 crores as per the actual receipt amount, with 50% addition to each assessee given their joint acknowledgment and failure to rebut statutory presumptions. Case-Laws Income Tax Fri, 27 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773179