ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, GUWAHATI vs. FORTUNE VANIJYA PRIVATE LIMITED, GUWAHATI
In the result both the appeal of the Revenue and the cross objections of the assessee stands partly allowed
ITA 21/GTY/2021[2011-12]Status: DisposedITAT Guwahati10 Dec 2021AY 2011-12
Bench: Shri P.M. Jagtap, Hon’Ble V.P (Kz) & Shri A. T. Varkey, Jm]
Section 132Section 132(4)Section 142(1)Section 153ASection 153CSection 68
292C(1)(i) of the Act further raises a presumption regarding the asset, books of accounts, documents etc.
found in the course of search that it belongs to the person from whom the said assets/documents were found during the course of search/survey u/s. 132/133A of the Act. In other words, whenever asset/document/books of account are found from a person
