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8[42D. Presumption as to assets, books of account, etc.

9[(1)] Where any books of account or other documents, articles or things including money are found in the possession or control of any person in the course of a search under section 37A, it may, in any proceeding under this Act, be presumed that

(i) such books of account or other documents, articles or things including money belong to such person;

(ii) the contents of such books of account or other documents are true; and

(iii) the signature and every other part of such books of account or other documents which purport to be in the handwriting of any particular person or which may reasonably be assumed to have been signed by, or to be in the handwriting of, any particular person, are in that person's handwriting, and in the case of a document stamped, executed or attested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested.]

1. Subs. by Act 5 of 1964, s. 50, for sections 42A and 42B (w.e.f. 1-4-1964). Earlier these sections were inserted by Act 28 of 1960, s. 11 (w.e.f. 1-4-1960).

2. Ins. by Act 41 of 1975, s. 103 (w.e.f. 1-10-1975).

3. Subs. by s. 103, ibid., for sub-section (2) (w.e.f. 1-10-1975).

4. Subs. by Act 4 of 1988, s. 127, for "Appellate Assistant Commissioner" (w.e.f. 1-4-1988).

5. Ins. by Act 29 of 1977, s. 39 and the Fifth Schedule (w.e.f. 10-7-1978).

6. Ins. by Act 3 of 1989, s. 77 (w.e.f. 1-4-1989).

7. Subs. by Act 4 of 1988, s. 127, for "Commissioner" (w.e.f. 1-4-1988).

8. Ins. by Act 22 of 2007, s. 93 (w.r.e.f. 1-10-1975).

9. Section 42D renumbered as sub-section (1) thereof by Act 18 of 2008, s. 67 (w.r.e.f. 1-10-1975).

1[(2) Where any books of account, other documents or assets have been delivered to the requisitioning officer in accordance with the provisions of section 37B, then, the provisions ofsub-section (1) shall apply as if such books of account, other documents or assets which had been taken into custody from the person referred to in clause (a) or clause (b) or clause (c), as the case may be, of sub-section (1) of section 37B, had been found in the possession or control of that person in the course of a search under section 37A.]



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