https://www.taxtmi.com/caselaws?id=6549 SC held that the statutory presumption in section 132(4A) applies only to search and seizure proceedings and to retention under section 132(5) and application under section 132B, and is not available for framing regular assessments except where expressly provided. The High Court of Karnataka was found to have erred. The question was answered against the Revenue and in favour of the assessee. Seized material may still be used as evidence in other proceedings; appeals allowed. en-us Wed, 15 Nov 2006 00:00:00 +0530 Wed, 17 Sep 2025 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6549 SC held that the statutory presumption in section 132(4A) applies only to search and seizure proceedings and to retention under section 132(5) and application under section 132B, and is not available for framing regular assessments except where expressly provided. The High Court of Karnataka was found to have erred. The question was answered against the Revenue and in favour of the assessee. Seized material may still be used as evidence in other proceedings; appeals allowed. Case-Laws Income Tax Wed, 15 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6549