Section 292BB of Income Tax Act "Notice deemed to be valid in certain circumstances"
292BB. Where an assessee has appeared in any proceeding
or co-operated in any inquiry relating to an assessment or
reassessment, it shall be deemed that any notice under any
provision of this Act, which is required to be served upon
him, has been duly served upon him in time in accordance
with the provisions of this Act and such assessee shall be
precluded from taking any objection in any proceeding or
inquiry under this Act that the notice was-
(a) not served upon him; or
(b) not served upon him in time; or
(c) served upon him in an improper manner:
Provided that nothing contained in this section shall apply
where the assessee has raised such objection before the
completion of such assessment or reassessment.
292C. (1) Where any books of account, other documents,
money, bullion, jewellery or other valuable article or thing
are or is found in the possession or control of any person
in the course of a search under section 132 or survey under
section 133A, it may, in any proceeding under this Act, be
presumed-
(i) that such books of account, other documents, money,
bullion, jewellery or other valuable article or thing belong
or belongs to such person;
(ii) that the contents of such books of account and other
documents are true; and
(iii) that the signature and every other part of such books
of account and 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.
(2) Where any books of account, other documents or assets
have been delivered to the requisitioning officer in
accordance with the provisions of section 132A, then, the
provisions of sub-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 132A, had been found in the possession or
control of that person in the course of a search under
section 132.