Addition towards on-money receipts sustained by invoking statue presumption u/s 292C

Mittal Projects Vs DCIT (ITAT Pune) ITAT Pune held that addition towards on-money receipts sustained based on seized document by invoking the statute presumption under section 292C of the Income Tax Act. Facts- Vide the present appeal, the appellant contested the order of Commissioner of Income Tax (Appeals). It is argued that CIT(A) has erred in upholding addition made by Assessing Officer towards alleged on-money receipts. Conclusion- We, however, note that the exception herein is the assessee’s “whatsapp” chats seized from its authorized staff accounts which have been nowhere disputed...