Presumption of concealment of income by assessee of income tax

[bpagrawal]

Presumption of concealment of income by assessee of income tax


MAK Data P. Ltd. vs. Commissioner of Income Tax-II (30.10.2013 - SC)
The court observed how explanation to Section 271(1) of the Income Tax Act raises a presumption of concealment, when a difference is noticed by an assessing officer, between the reported and assessed income. In such cases, the burden rests upon the assessee to show otherwise, through cogent and reliable evidences. Once this onus gets discharged, the onus then shifts onto the Revenue to prove the impugned amount to constitute the income and not otherwise.1IN THE SUPREME COURT OF INDIA


MAK Data Pvt. Ltd. Vs. Commissioner of Income Tax-II
http://www.lawweb.in/2013/11/presumption-of-concealment-of-income-by.html