Held, that the explanations submitted by the assessee before the authorities revealed that the assessee has, given the details of the amount received, the receipt number and the details of the amount which were refunded including the cheque number and date Thus, the assessee had discharged the onus cast upon it. The presumption under section 292C of the Act was a rebuttable presumption and could not be applied mechanically ignoring the facts of the case and the surrounding circumstances. Thus, the additions were deleted. (AY. 2011-12)