INCOME TAX ACT, 1961

Search and seizure - Search under section 132 -Reason to believe

Held: Where there was nothing either in section 132 or any other provision to indicate that presumption provided under section 132(4A), which was a self-contained code for search and seizure and retention of books, etc., can be raised for purpose of framing of regular assessment under section 143 as well, therefore, presumption under section 132(4A) was available only in regard to proceedings for search and seizure and for purpose of retaining assets under section 132(5) and their application under section 132B.

Income-tax Act, 1961, Section 132, read with section 143

A.Y. : 1981-82 and 1982-83
Decision: Matter remand.

P.R. Metrani v. CIT