| Question And Answer | |
|---|---|
| Subject: | Sec. 132 vs Sec.153A |
| Category: | Income-Tax |
| Querist: | CA Kiran Kanani |
| Answered by: | Law Intern |
| Tags: | search assessment |
| Date: | August 14, 2025 |
Father A and Son B were searched u/132 at residence. Diaries written by father seized, owned up by him.
Certain notes on cash loans were written in the name of Son B in that dairy. B not aware.
Assessment under which Sec. to be carried ? 153 A or 153C?
Since both A & B are “searched persons”, the assessment will have to be made u/s 153A. Though the diaries are owned up by A, the rebuttable presumption u/s 132(4A) will apply that the diary belongs to B and its contents are true.
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org