The Delhi bench of ITAT has held that the presumption under Section 292C

The Delhi bench of ITAT has held that the presumption under Section 292C 

The Delhi bench of ITAT has held that the presumption under Section 292C of the Income Tax Act in respect of assets, books of account, etc. at the time of search or survey is only a deeming provision. The deeming provision cannot be applied mechanically where the explanation and the details given by the assessee has not been shown to be untrue or contrary to the facts stated before the authorities.



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