Presumption set out in Section 292C of the Act does not apply since the documents in question was not found or impounded from the appellant’s premises but in the course of survey (not search) conducted against a third party.

53. [2025] 125 ITR(T) 1 (Jaipur - Trib.)  Pushpa Vidya Niketan Samiti vs. ACIT ITA NO.: 313 TO 315(JPR) OF 2024 A.Y.: 2015-16 TO 2017-18 Date: 24.03.2025  Sec. 292C Presumption set out in Section 292C of the Act does not apply since the documents in question was not found or impounded from the appellant's premises but in the course of survey (not search) conducted against a third party. FACTS The assessee is involved in imparting school education in the name of Bhagat Public School and the administration of the same is being managed by Shri Naresh Jain. The assessee filed its return of income on 31.03.2016 under section  139(4) of the Act declaring total income at ₹1,03,060/-.Notice under section  148 of the Act was issued on 15.03.2019. A survey under section  133A of the Act was carried out at the premises of the assessee and also at M/s. Quick Advertisement Co., Prop. Smt.Nisha Jain. During the survey at M/s. Quick Advertisement Co. certain documents were seized as containing list of students of Bhagat Public School respectively. These documents were confronted to Shri Naresh Jain who confirmed and admitted that these documents related to class wise actual fee collection of the student of Bhagat Public School and that the lower fee collection has been disclosed as compared to the actual f