Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 292C of Income-tax Act: Presumptions on Possession and Authenticity of Assets and Documents Found During Searches</h1> Section 292C, inserted into the Income-tax Act by the Finance Act, 2007, establishes presumptions regarding assets and documents found during a search under section 132. It presumes that any books, documents, money, bullion, jewellery, or valuable items found in a person's possession belong to that person. The section also presumes the truthfulness of the contents of such documents and that signatures or handwriting in these documents are indeed those of the person they appear to represent. Additionally, it assumes that stamped, executed, or attested documents were properly processed by the purported signatory.
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