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of <h1>Income Tax Bill 2025 Clause 489 creates rebuttable presumptions for assets found during searches including virtual digital assets</h1> The Income Tax Bill, 2025's Clause 489 updates presumptions in tax offense prosecutions, replacing Section 278D of the Income-tax Act, 1961. The provision creates rebuttable presumptions regarding ownership and authenticity of assets, books, and documents found during searches under section 247 or requisitions under section 248. Key updates include explicit coverage of virtual digital assets, reflecting modern economic realities. The presumption applies to persons in possession and those referenced in section 484. Like its predecessor, the provision shifts evidentiary burden to facilitate prosecution while maintaining rebuttable nature to protect due process rights.
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