India - Income Tax Act 2010 - Saarc

1.949 CH. XXIII - MISCELLANEOUS S. 292C20[Notice deemed to be valid in certain circumstances.292BB. Where an assessee has appeared in any proceeding or co-operated inany inquiry relating to an assessment or reassessment, it shall bedeemed that any notice under any provision of this Act, which is required to beserved upon him, has been duly served upon him in time in accordance with theprovisions of this Act and such assessee shall be precluded from taking anyobjection in any proceeding or inquiry under this Act that the notice was—(a) not served upon him; or(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 assesseehas raised such objection before the completion of such assessment orreassessment.]21[Presumption as to assets, books of account, etc.292C. 22 [(1)] Where any books of account, other documents, money, bullion,jewellery or other valuable article or thing are or is found in the possessionor control of any person in the course of a search under section 132 23 [or surveyunder section 133A], it may, in any proceeding under this Act, be presumed—(i) that such books of account, other documents, money, bullion, jewelleryor other valuable article or thing belong or belongs to such person;(ii) that the contents of such books of account and other documents aretrue; and(iii) that the signature and every other part of such books of account andother documents which purport to be in the handwriting of anyparticular person or which may reasonably be assumed to have beensigned by, or to be in the handwriting of, any particular person, are inthat person’s handwriting, and in the case of a document stamped,executed or attested, that it was duly stamped and executed orattested by the person by whom it purports to have been so executedor attested.]24[(2) Where any books of account, other documents or assets have beendelivered to the requisitioning officer in accordance with the provisions ofsection 132A, then, the provisions of sub-section (1) shall apply as if such booksof account, other documents or assets which had been taken into custody fromthe 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 ofthat person in the course of a search under section 132.]20. Inserted by the Finance Act, 2008, w.e.f. 1-4-2008.21. Inserted by the Finance Act, 2007, w.r.e.f. 1-10-1975.22. Renumbered as sub-section (1) by the Finance Act, 2008, w.r.e.f. 1-10-1975.23. Inserted, ibid., w.r.e.f. 1-6-2002.24. Inserted, ibid., w.r.e.f. 1-10-1975.