This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Presumption u/s 292 is discretionary in nature; authorities can reject books of account founding them inchoate
Case Law Details
- Case Name
- M/s Harish Textile Engrs. Ltd Vs DCIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
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 been made, the address of the recipient, the person by whom the payment is made and the documents ...
