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of <h1>Income Tax Bill 2025: Clause 489 Expands Evidence Presumption for Assets Found in Searches Under Section 247.</h1> Clause 489 of the Income Tax Bill, 2025, addresses the presumption of assets and documents in certain cases. It applies when assets such as money, bullion, jewellery, virtual digital assets, or documents are found during a search under section 247 and are used as evidence against an individual. The clause extends the application of section 247(7) to these assets and documents. Additionally, it covers situations where assets or documents are taken into custody by an officer under section 248 and then used as evidence for prosecution under the Act, ensuring the same provisions of section 247(7) apply.
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