Case Law Details
Case Name : M/s Harish Textile Engrs. Ltd Vs DCIT (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Brief of the Case
Bombay High Court held In the case of M/s Harish Textile Engrs. Ltd. vs. DCIT that Section 292 uses the word ‘may presume’ and not ‘shall presume’ or ‘conclusively presume’. The words ‘may presume’ are in the nature of discretionary presumption different from a compulsory presumption. In the present facts the documents found during the course of the search are uncompleted. It does not indicate the person to whom the payment has
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