Preponderance of probabilities: court remitted assessment, allowing petitioner an opportunity to obtain seized documents and file replies.

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Full Text of the Document

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....Article discusses validity of an income tax assessment and penalty under section 271AAD(1)(i), emphasising that assessments rest on a preponderance of probabilities and are sustained if that standard is met. It notes the assessee failed to obtain or request copies of seized materials forming the basis of the assessment and belatedly sought unnamed cross examination, which the author treats as insufficient to vitiate the process. While writ petitions seeking relief lack merit on those grounds, the impugned orders were quashed and the matter remitted with an opportunity for the assessee to apply for relevant documents and file fresh replies.....