ITO v. T. Abdul Majeed

169 ITR 440High Court1988#3491 most cited
34

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2008 to 2025.

Sections most often in play

Section 131Section 132Section 142(1)Section 143(2)Section 153ASection 292CSection 69CSection 119

Issues it is cited on

illegal paymentsection 65b(4)section 114explanation to section 37prohibited by lawweighted deductionsection 35(2ab)section 65bsection 65section 131(1a)survey under section 133asection 132(4a)

Judgments citing ITO v. T. Abdul Majeed

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1703/PUN/2024[2020-21]Status: DisposedITAT Pune09 Jan 2025AY 2020-21

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…ttested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested." As to the nature of the presumption, the Kerala High Court, in Income Tax Officer, B-Ward, Ernakulam v. T. Abdul Majeed, [1988] 169 ITR 440, held as follows: - "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption 33 ITA.Nos.1696 to 1703/PUN./2024 envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon…

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1700/PUN/2024[2017-18]Status: DisposedITAT Pune09 Jan 2025AY 2017-18

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…ttested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested." As to the nature of the presumption, the Kerala High Court, in Income Tax Officer, B-Ward, Ernakulam v. T. Abdul Majeed, [1988] 169 ITR 440, held as follows: - "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption 33 ITA.Nos.1696 to 1703/PUN./2024 envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon…

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1699/PUN/2024[2016-17]Status: DisposedITAT Pune09 Jan 2025AY 2016-17

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…ttested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested." As to the nature of the presumption, the Kerala High Court, in Income Tax Officer, B-Ward, Ernakulam v. T. Abdul Majeed, [1988] 169 ITR 440, held as follows: - "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption 33 ITA.Nos.1696 to 1703/PUN./2024 envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon…

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1698/PUN/2024[2015-16]Status: DisposedITAT Pune09 Jan 2025AY 2015-16

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…ttested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested." As to the nature of the presumption, the Kerala High Court, in Income Tax Officer, B-Ward, Ernakulam v. T. Abdul Majeed, [1988] 169 ITR 440, held as follows: - "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption 33 ITA.Nos.1696 to 1703/PUN./2024 envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon…

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1697/PUN/2024[2014-15]Status: DisposedITAT Pune09 Jan 2025AY 2014-15

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…ttested, that it was duly stamped and executed or attested by the person by whom it purports to have been so executed or attested." As to the nature of the presumption, the Kerala High Court, in Income Tax Officer, B-Ward, Ernakulam v. T. Abdul Majeed, [1988] 169 ITR 440, held as follows: - "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption 33 ITA.Nos.1696 to 1703/PUN./2024 envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon…

NARESH BALYAN,NEW DELHI vs. ACIT, NEW DELHI

In the result, appeal of the assessee is allowed

ITA 3448/DEL/2023[2017-18]Status: DisposedITAT Delhi18 Dec 2024AY 2017-18

Bench: Shri Pradip Kumar Kedia & Shri Vimal Kumar[Assessment Year : 2017-18] Naresh Balyan Vs Acit 125-A, Shyam Park Central Circle-16 Nawada, Uttam Nagar Jhandewalan Ext. New Delhi-110059 Delhi Pan-Adqpb8836L Appellant Respondent Appellant By Shri Jasmeet Singh, Adv. & Shri Pranav Menon, Adv. Respondent By Ms. Baljeet Kaur, Cit Dr Date Of Hearing 25.10.2024 18.12.2024 Date Of Pronouncement

Section 132Section 143(1)Section 143(2)Section 153ASection 250(6)Section 292CSection 69ASection 69C

…ITA No.3448/Del/2023 Naresh Balyan vs ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “E” BENCH: NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI VIMAL KUMAR, JUDICIAL MEMBER [Assessment Year : 2017-18] Naresh Balyan vs ACIT 125-A, Shyam Park Central Circle-16 Nawada, Uttam Nagar Jhandewalan Ext. New Delhi-110059 Delhi PAN-ADQPB8836L APPELLANT RESPONDENT Appellant by Shri Jasmeet Singh, Adv. & Shri Pranav Menon, Adv. Respondent by Ms. Baljeet Kaur, CIT DR Date of Hearing 25.10.2024 18.12.2024 Date of Pronouncement ORDER PER PRADIP KUMAR KEDIA- AM : The instant appeal has been filed at the inst…

MADHAN HUF,TRICHY vs. DCIT, CENTRAL CIRCLE-1, TRICHY

In the result the appeal of the assessee is allowed for statistical purpose

ITA 975/CHNY/2023[2015-16]Status: DisposedITAT Chennai04 Sept 2024AY 2015-16

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 975/Chny/2023 िनधा"रणवष" / Assessment Year: 2015-16 Dcit/Acit, Madhan Huf, V. Central Circle 1, 284 Lawsons Road, Trichy. Cantonment, Trichy – 600 001. [Pan: Aaqhm-0598-F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. N. Arjun Raj, Advocate ""यथ"क"ओरसे/Respondent By : Shri. N. Sanjay Gandhi, Jcit सुनवाई क" तारीख/Date Of Hearing : 11.06.2024 घोषणा क" तारीख/Date Of Pronouncement : 04.09.2024 आदेश /O R D E R

For Appellant: Shri. N. Arjun Raj, AdvocateFor Respondent: Shri. N. Sanjay Gandhi, JCIT
Section 131Section 133ASection 139Section 147Section 69A

…arty of the transaction by claiming that he was not allowed to cross-examine will not be appropriate. 6.3.6 The presumption laid-down u/s 292C of the Act is a rebuttable presumption (Hon'ble Kerala High court in the case of ITO-vs- T. Abdul Majeed reported in 169 ITR 440). In the present case, the Appellant has. not rebutted the signature and the contents contained in the Sale Agreement. In addition, the Appellant has admitted about the receipt of 4.5 Crore in the statement recorded u/s 131 of the Act and also the A.R. in the submission made has admitted about the fact, about the receipt of advance of Rs.4.5 Cror…

SHRI NARESH JHANWAR,JAIPUR vs. DCIT, C.C.-3, JAIPUR

In the result, both the appeal of the assessee is partly

ITA 260/JPR/2020[2017-18]Status: DisposedITAT Jaipur17 Aug 2022AY 2017-18
For Appellant: Sh. P. C. Parwal (CA)For Respondent: Shri Sanjay Dhariwal (CIT)
Section 139Section 143(3)Section 153ASection 199CSection 292CSection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,’B’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM deys’k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 259 & 260/JP/2020 fu/kZkj.k o"kZ@Assessment Year :2016-17 & 2017-18 cuke Shri Naresh Jhanwar DCIT, Vs. 104/72, Vijay Path, Agarwal Farm, Central Circle-3, Mansarovar, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ADHPJ7566Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. P. C. Parwal (CA) jk…

SHRI NARESH JHANWAR,JAIPUR vs. DCIT, C.C.-3, JAIPUR

In the result, both the appeal of the assessee is partly

ITA 259/JPR/2020[2016-17]Status: DisposedITAT Jaipur17 Aug 2022AY 2016-17
For Appellant: Sh. P. C. Parwal (CA)For Respondent: Shri Sanjay Dhariwal (CIT)
Section 139Section 143(3)Section 153ASection 199CSection 292CSection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,’B’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM deys’k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 259 & 260/JP/2020 fu/kZkj.k o"kZ@Assessment Year :2016-17 & 2017-18 cuke Shri Naresh Jhanwar DCIT, Vs. 104/72, Vijay Path, Agarwal Farm, Central Circle-3, Mansarovar, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ADHPJ7566Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. P. C. Parwal (CA) jk…

ACIT, CENTRAL CIRCLE, ALWAR vs. SHRI BABU LAL DATA, 2015-16

In the result, appeal of the revenue is dismissed

ITA 1232/JPR/2019[2016-17]Status: DisposedITAT Jaipur05 May 2022AY 2016-17
For Appellant: Sh. P. C. Parwal, CAFor Respondent: S. Naiyer Ali Najmi, CIT
Section 127Section 132Section 139Section 153A

…cogent reasons have been advanced. There cannot be two standards of presumption, one for set A-2 and A-4 and other for A-3 and 4-5.- CIT vs SMS Investment Corporation (P) Ltd (1994) 207 FTR 364 (Raj) and I1O vs T. Abdul Majeed (1987) 64 CTR (Ker) 266: (1988) 169 ITR 440 (Ker) relied on. Since all the entries in A-3/A-5 contain the names of the lenders, therefore, what the assessee means in the statement is that money was advanced through him and it does not, therefore, lead to the inference that money so advanced belonged to the assessee. Thus, not much weight can be given to the question and answers recorded o…

ACIT, CENTRAL CIRCLE, ALWAR vs. SHRI BABU LAL DATA, 2015-16

In the result, appeal of the revenue is dismissed

ITA 1231/JPR/2019[2015-16]Status: DisposedITAT Jaipur05 May 2022AY 2015-16
For Appellant: Sh. P. C. Parwal, CAFor Respondent: S. Naiyer Ali Najmi, CIT
Section 127Section 132Section 139Section 153A

…cogent reasons have been advanced. There cannot be two standards of presumption, one for set A-2 and A-4 and other for A-3 and 4-5.- CIT vs SMS Investment Corporation (P) Ltd (1994) 207 FTR 364 (Raj) and I1O vs T. Abdul Majeed (1987) 64 CTR (Ker) 266: (1988) 169 ITR 440 (Ker) relied on. Since all the entries in A-3/A-5 contain the names of the lenders, therefore, what the assessee means in the statement is that money was advanced through him and it does not, therefore, lead to the inference that money so advanced belonged to the assessee. Thus, not much weight can be given to the question and answers recorded o…

SHRI BABU LAL DATA,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

In the result, appeal of the revenue is dismissed

ITA 1223/JPR/2019[2016-17]Status: DisposedITAT Jaipur05 May 2022AY 2016-17
For Appellant: Sh. P. C. Parwal, CAFor Respondent: S. Naiyer Ali Najmi, CIT
Section 127Section 132Section 139Section 153A

…cogent reasons have been advanced. There cannot be two standards of presumption, one for set A-2 and A-4 and other for A-3 and 4-5.- CIT vs SMS Investment Corporation (P) Ltd (1994) 207 FTR 364 (Raj) and I1O vs T. Abdul Majeed (1987) 64 CTR (Ker) 266: (1988) 169 ITR 440 (Ker) relied on. Since all the entries in A-3/A-5 contain the names of the lenders, therefore, what the assessee means in the statement is that money was advanced through him and it does not, therefore, lead to the inference that money so advanced belonged to the assessee. Thus, not much weight can be given to the question and answers recorded o…

SHRI BABU LAL DATA,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

In the result, appeal of the revenue is dismissed

ITA 1222/JPR/2019[2015-16]Status: DisposedITAT Jaipur05 May 2022AY 2015-16
For Appellant: Sh. P. C. Parwal, CAFor Respondent: S. Naiyer Ali Najmi, CIT
Section 127Section 132Section 139Section 153A

…cogent reasons have been advanced. There cannot be two standards of presumption, one for set A-2 and A-4 and other for A-3 and 4-5.- CIT vs SMS Investment Corporation (P) Ltd (1994) 207 FTR 364 (Raj) and I1O vs T. Abdul Majeed (1987) 64 CTR (Ker) 266: (1988) 169 ITR 440 (Ker) relied on. Since all the entries in A-3/A-5 contain the names of the lenders, therefore, what the assessee means in the statement is that money was advanced through him and it does not, therefore, lead to the inference that money so advanced belonged to the assessee. Thus, not much weight can be given to the question and answers recorded o…

DCIT CC 8(1), MUMBAI vs. M/S JAINAM INVESTMENTS, MUMBAI

In the result, appeals filed by the revenue are hereby dismissed

ITA 4474/MUM/2019[2016-17]Status: DisposedITAT Mumbai25 Feb 2021AY 2016-17
For Appellant: Shri Suchek Anchaliya (AR)For Respondent: Shri Rahul Raman (DR)
Section 143(1)Section 148Section 68

…lusive one. Certainly, the burden to rebut the presumption is upon the person against whom the presumption is applicable. While taking the above view, we derive support from the decision of Hon'ble Kerala High Court in the case of ITO y. T. Abdul Majid (1988) 169 ITR 440 (Ker), wherein at p 444, Their Lordships held as under: "It is true that Section 132(4A) of the Act enables the Court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption envisaged therein is only a factual presumption. It is in the discretion of the Court, depending upo…

UMA SINGAL,NEW DELHI vs. ACIT, CENTRL CIRCLE-3, NEW DELHI

ITA 1484/DEL/2018[2014-15]Status: DisposedITAT Delhi07 Dec 2018AY 2014-15

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri S. K. Tulsiyan, AdvFor Respondent: Shri S S Rana CIT DR
Section 10(38)Section 143Section 153ASection 250Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―G‖: NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No. 1415 to 1417/Del/2018 (Assessment Year: 2013-14 to 2015-16) Shri Brij Bhushan Singal, Vs. ACIT, W-29, Greater Kailash Part-II, Central Circle-3, New Delhi New Delhi (Appellant) (Respondent) ITA No. 1483 & 1484/Del/2018 (Assessment Year: 2013-14, and 2014-15) Mrs. Uma Singal, Vs. ACIT, W-29, Greater Kailash Part-II, Central Circle-3, New Delhi New Delhi (Appellant) (Respondent) ITA No. 1479 to 1481/Del/2018 (Assessment Year: 2013-14 to 2015-16) Mrs. Ritu Si…

RITU SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

ITA 1481/DEL/2018[2015-16]Status: DisposedITAT Delhi07 Dec 2018AY 2015-16

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri S. K. Tulsiyan, AdvFor Respondent: Shri S S Rana CIT DR
Section 10(38)Section 143Section 153ASection 250Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―G‖: NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No. 1415 to 1417/Del/2018 (Assessment Year: 2013-14 to 2015-16) Shri Brij Bhushan Singal, Vs. ACIT, W-29, Greater Kailash Part-II, Central Circle-3, New Delhi New Delhi (Appellant) (Respondent) ITA No. 1483 & 1484/Del/2018 (Assessment Year: 2013-14, and 2014-15) Mrs. Uma Singal, Vs. ACIT, W-29, Greater Kailash Part-II, Central Circle-3, New Delhi New Delhi (Appellant) (Respondent) ITA No. 1479 to 1481/Del/2018 (Assessment Year: 2013-14 to 2015-16) Mrs. Ritu Si…

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

ITA 1470/DEL/2018[2015-16]Status: DisposedITAT Delhi06 Sept 2018AY 2015-16

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f 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." As to the nature of the presumption, the Kerala High Court, in ITO v. T. Abdul Majeed [1988] 169 ITR 440, held as follows (page 444) : "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon other factors, to decide…

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

ITA 1469/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2018AY 2014-15

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f 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." As to the nature of the presumption, the Kerala High Court, in ITO v. T. Abdul Majeed [1988] 169 ITR 440, held as follows (page 444) : "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon other factors, to decide…

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

ITA 1467/DEL/2018[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f 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." As to the nature of the presumption, the Kerala High Court, in ITO v. T. Abdul Majeed [1988] 169 ITR 440, held as follows (page 444) : "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon other factors, to decide…

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

ITA 1466/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Sept 2018AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f 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." As to the nature of the presumption, the Kerala High Court, in ITO v. T. Abdul Majeed [1988] 169 ITR 440, held as follows (page 444) : "It is true that section 132(4A) of the Act enables the court to presume the truth of the contents of such books. However, it is a presumption which can be rebutted. Moreover, the presumption envisaged therein is only a factual presumption. It is in the discretion of the court, depending upon other factors, to decide…

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