TaxTMI 
TaxTMI 
2012 (10) TMI 1207
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....m the assessee's premises by overlooking the provisions of section 132(4A) of the Income Tax Act, 1961 and when the assessee had failed to discharge the onus cast upon him to rebut the presumption with proper explanation and substantiating material?" 2. The issue arises in following factual background. During the course of search operations carried out at the residential and business premises of the respondent - assessee, certain documents were seized. On the basis of such documents, the Assessing Officer desired to make addition. The assessee, however, during the course of the assessment, contended that such documents do not belong to him. The assessee's business was of transportation. The documents contained entries regarding the....
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....even an allegation of the Revenue that there was such type of business at all run by the assessee. It was not the case of the revenue that an undisclosed business was unearthed which was not found recorded in the books of account. Barring this paper, there is no material in possession of the Revenue to corroborate that the said paper had any connection with the accounted or unaccounted business activity of the assessee. From the side of the Revenue even no such attempt was ever made to make an enquiry from those parties whose names were printed on the said paper. Because of these reasons, ld. AR Mr. Mukund Bakshi has emphasized that the said document was nothing but a bald document. For this legal proposition, case laws cited are:- Sl.No.....