Income Tax Act, 2025
Section 3: Ins. by Act 18 of 2008, s. 56 (w.e.f. 12008).
3. Ins. by Act 18 of 2008, s. 56 (w.e.f. 12008).
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(b) not served upon him in time; or
(c) served upon him in an improper manner:
Provided that nothing contained in this section shall apply where the assessee has raised such
objection before the completion of such assessment or reassessment.]
1[292C. Presumption as to assets, books of account, etc.—2[(1)] Where any books of account, other
documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or
control of any person in the course of a search under section 132 3[or survey under section 133A], it may,
in any proceeding under this Act, be presumed—
(i) that such books of account, other documents, money, bullion, jewellery or other valuable
article or thing belong or belongs to such person;
(ii) that the contents of such books of account and other documents are true; and
(iii) that the signature and every other part of such books of account and other documents which
purport to be in the handwriting of any particular person or which may reasonably be assumed to
have been signed by, or to be in the handwriting of, any particular person, are in that person’s
handwriting, and in the case of a document stamped, executed or attested, that it was duly stamped
and executed or attested by the person by whom it purports to have been so executed or attested.]
4[(2) Where any books of account, other documents or assets have been delivered to the requisitioning
officer in accordance with the provisions of section 132A, then, the provisions of sub-section (1) shall
apply as if such books of account, other documents or assets which had been taken into custody from the
person referred to in clause (a) or clause (b) or clause (c), as the case may be, of sub-section (1) of
section 132A, had been found in the possession or control of that person in the course of a search under
section 132.]
5[292CC. Authorisation and assessment in case of search or requisition.—(1) Notwithstanding
anything contained in this Act,—
(i) it shall not be necessary to issue an authorisation under section 132 or make a requisition
under section 132A separately in the name of each person;
(ii) where an authorisation under section 132 has been issued or requisition under
section 132A has been made mentioning therein the name of more than one person, the mention of
such names of more than one person on such authorisation or requisition shall not be deemed to
construe that it was issued in the name of an association of persons or body of individuals consisting
of such persons.
(2) Notwithstanding that an authorisation under section 132 has been issued or requisition
under section 132A has been made mentioning therein the name of more than one person, the assessment
or reassessment shall be made separately in the name of each of the persons mentioned in such
authorisation or requisition.]
not served upon him in time; or
served upon him in an improper manner:
Provided that nothing contained in this section shall apply where the assessee has raised such
objection before the completion of such assessment or reassessment.]
1[292C. Presumption as to assets, books of account, etc.—2[
that such books of account, other documents, money, bullion, jewellery or other valuable
article or thing belong or belongs to such person;
that the contents of such books of account and other documents are true; and
that the signature and every other part of such books of account and other documents which
purport to be in the handwriting of any particular person or which may reasonably be assumed to
have been signed by, or to be in the handwriting of, any particular person, are in that person’s
handwriting, and in the case of a document stamped, executed or attested, that it was duly stamped
and executed or attested by the person by whom it purports to have been so executed or attested.]
4[
Where any books of account, other documents or assets have been delivered to the requisitioning
officer in accordance with the provisions of section 132A, then, the provisions of sub-section
shall
apply as if such books of account, other documents or assets which had been taken into custody from the
person referred to in clause
or clause
or clause
of
section 132A, had been found in the possession or control of that person in the course of a search under
section 132.]
5[292CC. Authorisation and assessment in case of search or requisition.—
Notwithstanding
anything contained in this Act,—
it shall not be necessary to issue an authorisation under section 132 or make a requisition
under section 132A separately in the name of each person;
where an authorisation under section 132 has been issued or requisition under
section 132A has been made mentioning therein the name of more than one person, the mention of
such names of more than one person on such authorisation or requisition shall not be deemed to
construe that it was issued in the name of an association of persons or body of individuals consisting
of such persons.
Notwithstanding that an authorisation under section 132 has been issued or requisition
under section 132A has been made mentioning therein the name of more than one person, the assessment
or reassessment shall be made separately in the name of each of the persons mentioned in such
authorisation or requisition.]